The recent string of records in the U.S. stock market may just be the beginning. When the S&P 500 SPX, +0.57% closed at an all-time high last Friday — the first in a four-day-long streak of records, as of Wednesday’s close — it not only represented a new peak for Wall Street, but the end of a lengthy stint of essentially sideways trading. And now that equities have broken out of the range they’ve been in for months, momentum may have shifted in a way that augurs for even more advances ahead. “A breakout from a multi-month base is about as bullish of a signal as we usually get with the stock market,” said Andrew Adams, senior research associate at Raymond James, who particularly cited the robust 0.8% gain in Monday’s session. “It’s hard to argue with a pattern like this. Ideally, the index does not retreat back down beneath its 2,872 breakout point, but even if it does, there should be plenty of additional support underneath now to prevent a significant downside move.” Courtesy Raymond James via