Chart of the Day - Wednesday, April 28th, 2021

Today’s Chart of the Day was shared by John Kicklighter (@JohnKicklighter). It's a chart of the S&P 500 over the past 3.5 years, along with a short-term volatility indicator below (3-day Average True Range). This week has been a snoozefest for stocks, with the S&P 500 virtually unchanged since Friday's close (+0.07%). John points out that the 3-day Average True Range is the lowest it's been in over a year. For investors, this calm environment is a breath of fresh air considering how turbulent the past year has been. For traders, this lack of volatility is not ideal. We'll likely see range expansion soon as the market digests the slew of earnings data that will be hitting the tape over the next couple of weeks.