If you've forgotten what a rally feels like, you're probably not alone. The S&P 500 hasn't had a 2% gain (in one day or over multiple days) since early June. In the top chart below, we show all periods where the S&P 500 went more than thirty days without a 2% rally. As shown in the chart, these uninterrupted declines are not too uncommon, as there have been 41 other periods since 1940. What makes this period more painful, however, is the magnitude of the declines during this stretch....MORE, including chart.