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While Detrick noted the pattern has been different in the past 10 years -- with an average gain of 0.9 percent in the month -- he said the "burst of volatility" seen in August is expected to continue regardless. The Cboe Volatility Index, averaged 18.98 in the month, compared with the average over the past two years of 15.35 .BTIG says the equity market may struggle to rise in the first half of the month, and that this may pressure the Fed to cut rates by 50 basis points in its next decision. S&P 500 futures fell 0.2 percent as of 8:55 a.m. in New York, though the American equity market was closed for the Labor Day holiday.
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