I think the S&P 500 (^GSPC +0.04%) will pull back a bit this August. For long‑term investors, that argues for preparing mentally and tactically for volatility, rather than trying to sidestep it entirely. August really is a soft spotSeasonality isn't destiny, but the numbers do show that August has a habit of underwhelming. This year, that seasonal soft spot is arriving with the S&P 500 already near record highs after a strong start to 2026. Since 1950, the S&P 500 has suffered an average peak‑to‑trough decline of about 18% in midterm years, meaning corrections into double‑digit territory are common.