This was the least volatile September ever

That's the least volatile September on record.

In September, you usually see volatility. But so far this year, 40 basis points is the average intraday move that we've seen so far on the S&P 500 this September, which is the least volatile ever.

In fact, according to Detrick, this September the S&P 500's average daily range has been around 0.4 percent.

So what does this mean for the market going into the fourth quarter? October has historically been the most volatile month of the year, with more 1 percent moves than any other month, so investors can expect a likely spike in volatility.

Could volatility mean a little bit of a pullback? Potentially, or maybe just some 1 percent daily changes which again, historically are normal, but clearly we haven't been seeing too many of them so far in 2017.

Markets traded in range in September, but taking into account the fact that the S & P500 has reached new highs despite the low volatility means we can see a continuation of the gains of the stock.

Source: Bloomberg Pro Terminal

Junior Trader Stefan Panteleev

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