Chart of the Day - Thursday, September 30th, 2021

Today’s Chart of the Day was shared by Ryan Detrick (@RyanDetrick). September is in the books! The S&P 500 ended a 7-month winning streak falling 4.76%, marking the worst month since last September. For my fellow seasonality junkies out there, September's weakness should come as no surprise given its notorious reputation as the worst month for the S&P 500. As we turn the calendar, October doesn't have a great reputation either, due to the fact that several major crashes have occurred during this month (1929, 1987, 2008). However, Ryan reminds us that October hasn't been all that bad in recent decades. In a note from LPL Financial Research, he explained "October clearly isn’t one of the best months of the year, but by no means is it the worst either." However, it is one of the most volatile months, he added, "No month has seen more 1% moves (up or down) than October, with some of the largest 1-day moves (both up and down) taking place this month." For more on this, check out the full note here.