OK, I’m three cups of ☕️ in today.
Here’s where we stand on the selloff.
The S&P 500 is down 2.2% today.
Total selloff since Wednesday = 6.4%
This has been quite the selloff, but remember — we scaled the mountain to record highs pretty quickly.
The S&P 500 is STILL:
👉 1.4% above its 50-day moving average
👉 6.6% above its 100-day moving average
👉 8.3% above its 200-day moving average
Tech stocks are getting walloped.
The Nasdaq 100 (a tech-heavy index) is almost 10% from its own record high.
But the N100 is still up 29% YTD, and 61% 😱 since March.
Look, context doesn’t make the market action any less painful. I get it.
But declines like these happen all the time, and they’re healthy for the market in the long run.
You gotta stumble sometimes before you walk.
⬆️s and ⬇️s happen. And we’ve seen a lot of ⬆️s lately.
That’s why we have goals: to keep us honest when our emotions get in the way.
Here’s what @justLBell and I wrote when stocks started sliding last week.
You’ve got this, fam 👊
ally.com/do-it-right/tr…
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