Today is the last day of summer, with the autumn equinox set to kick off on September 22. It is also the worst day of September, historically, for the S&P 500, as September 21 is higher only 38.3% of the time. Or as Carl Quintanilla put it on Twitter last night:
It is the worst day of the worst month of the year, but taking it one step further, this is also the worst week of the year for the S&P 500. So today is the worst day, of the worst week, of the worst month of the year—that’s a mouthful to say for sure.
Here’s a nice chart that breaks down how often each day of the year is higher. As you can see, today is the lowest for the month of September. Also note how the next few days are rather weak as well, confirming the seasonal weakness.
What should you do with this? In regards to simply one day of action, we wouldn’t advise doing anything. More important is the fact that the next five weeks are historically one of the most volatile and potentially weakest times of the year.
Enjoy the last day of summer everyone!
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