September 4, 2024

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart highlights the number of days the S&P 500 has experienced downward moves of -1%, -2%, or over -3%. Notice that tiny bar on the right? We’re still well below the historical average. Yes, yesterday was a big down day, but given how few of these we’ve seen lately, it’s hardly shocking. When you also consider September’s seasonal trends, the market’s behavior makes even more sense. But what’s the real takeaway here? I break it down in the Insight of the Day.