The difficulty is that this is NOT normal behavior for any typical pullback/correction nor cyclical bear. These are unusual times. The rough average for SPY annually since 1950 is around 9%. We just gained over a years average in a day. The problem is, it can drop as fast. We’ve all seen it. I seriously doubt that this event parallels any historic ones. Therefore, do the market school rules really apply?? We’ll see how it works out.
The good news is, I’m just studying the market school rules. I bought a few spots yesterday and today. Mortgage is paid. But I have tight, tight stops. Thought about closing them all out today but grandkids are here. No time. But I couldn’t fault anyone for doing day-trading under the current circumstances. The concern now is if we get all settled in and then what happens in 30 days…
Let’s be careful out there,
Lakedog
The volume criteria to make FTD tomorrow could be an issue.