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July 26, 2021 As our update came out last Monday, the S&P 500 was off by more than -1.5%.  This is considered to be an “outlier day” that will often temporarily startle investors.  We wrote in last week’s update:  “ When volatility gets low and compressed [as it does in a bull market], it will eventually “pop,” typically down, to relieve some of the pent-up pressure… We will continue to monitor the markets for any changes in environment, but most of the time, a day like Monday results in the markets moving back towards normal market behavior.” So far, this quote has been accurate.  After falling more than -1.5% last Monday, the markets rebounded back to close the week off at a new high.  The market was hit in the face with a cold glass of water, and needed some time (in this case, a few days) to get its bearings.

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