Chart of the Day - Tuesday, June 8th, 2021

Today’s Chart of the Day was shared by Seth Golden (@SethCL). Seth points out that July could bring a much-needed boost to the Nasdaq if recent history is any guide. The chart shows that the Nasdaq ETF, $QQQ, has closed higher in July every single year since 2008. CNBC's Michael Santoli once described seasonality using this analogy - "seasonality is climate, not weather." In other words, seasonality gives us an idea of the type of environment we can anticipate, but of course, anything can happen. For example, August is one of the most popular months to have a wedding in New York State. It's usually a lovely time of year there, and you'll likely have a picturesque sunny day. But, you can't completely rule out the unlikely possibility of a hurricane or something terrible like that. Is it likely? No. Is it possible? According to Wikipedia, yes, it is possible.