Here's What the S&P 500 Did the Last 2 Times Its Earnings Grew 25%-Plus for 3 Straight Quarters

The S&P 500 is experiencing its third streak of 25%-plus earnings growth for three consecutive quarters, with Q3 2026 blended growth at 29.5%. Historical analysis shows the previous two similar streaks (2009-2010 and 2021) resulted in opposite outcomes: a 17% gain and a 15% decline respectively. Unlike those rebounds from recessions, the current growth occurs on top of already-strong earnings. Valuations are more reasonable than in 2021, but the article suggests earnings growth alone doesn't determine future market direction.