1. The S&P 500 has increased or dropped by 1% or more on 38 days this year compared to the annual average of 53 back to 1958

2. This year’s number of 1% days is within one standard deviation (32 days) of the average.

3. There are typically 39 one percent days in the year after a year with lower-than-average volatility. In other words, years with lower than average volatility are usually followed by another year with below average volatility as measured by 1% days.