Time to panic yet? The S&P 500 dropped nearly 4% today for a new low of the year, and closed in bear market territory. Now it is becoming much more real for retail and money makers alike that the recession and inflation are coming soon, if not sooner than we expected.
March of 2021 was the last time the market was at this $3,749.63 level. The bear market territory became official when the index closed there on Monday. The last time stocks were in a bear market was in March of 2020 at the beginning of the pandemic.
Pretty much everything across the board turned red on Monday with the Fed meeting this week and fears growing rapidly.
As a retail trader, it is very difficult to maneuver these times in the market where there is not much certainty, and there is a lot of fluctuation and volatility. The biggest thing that I have come to learn is 1) follow your rules no matter what, 2) be flexible, 3) live to trade another day and finally 4) sometimes the best trade is no trade.