Historically, a strong August for the S&P 500 has been followed by a weak September, as seen in 2020 when a 7% August gain was followed by a 4.5% September decline. Given the S&P 500 is up 3% this August, investors might consider raising cash for potential buying opportunities in September if this historical pattern repeats. However, a 30% drawdown in April could alter typical seasonal dynamics, potentially leading to continued strength.