Chart of the Day - Thursday, August 1st, 2019

Today’s Chart of the Day was shared on Twitter by @Hipster_Trader. It's a monthly candlestick chart of the S&P 500 going back over 20 years. We like the chart because it provides a much needed long-term perspective on a day like today. Hipster sarcastically remarks, "fear grips Wall Street as markets crash." You may have felt this way today with the VIX soaring over 10% and renewed chatter about Trump's trade war. However, when you tune out the noise, the reality is that the S&P 500 is less than 3% off its all-time high. Taking a step back from day-to-day market commentary, the situation isn't nearly as bad.