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Expect another strong July for stocks, market strategist says

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The markets pro sees the S&P 500 posting further gains in July, with the potential to notch an all-time high later this year.

The past decade has brought particularly strong months of July for the S & P 500 , according to Carson Group. And the firm's chief market strategist expects a similarly good performance this year. In the past 10 years, the S & P 500 gained 3.3% in an average July, making it the best month on average for returns over the same time period, Carson data shows . By comparison, when looking all the way back to 1950, July is the fourth best month with an average return of just 1.

SPX 3M mountain The S & P 500 Detrick expects this year's performance for the trading month, which kicks off at Monday's open, to look more like a continuation of the past decade's trend than the longer-term historical average. Partly that's because there's already a summer rally taking place, which Detrick said has been driven by investor expectations for an improvement in the broad economy.

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