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The Russell 2000 recorded its seventh record high closing level in a row Monday. The last time the index closed at a record high seven or more times was in October 1997, and there have been 17 occurrences dating back to 1979.

The table below highlights each of the 17 prior occurrences along with in index's performance over the following four weeks (from the seventh day the index reached an all-time closing high). Following the last occurrence back in 1997, the Russell 2000 declined 4.63%. As shown, though, that decline was one of only four periods where the index saw a decline. Overall, the index has averaged a gain of 1.45% in the four-week following similar streaks with positive returns 76.5% of the time.

Source: 7th Straight Record Close For The Russell 2000