Let's play "where's its bottom?" The S&P 500 that is.
37% decline from peak is typical bear market. That would be about 3,000 on the S&P or another 1,000 points to decline from here. They typically last about a year. The dot.com bear was about a 50% decline lasting 3 years and the housing bubble was shorter and I believe was a 57% decline.
I'll put the stop of this one at 3,200 by this time next year. Probably going to witness some massive rallies before we get there, which is typical during one of these.
Should be some great opportunity once this flushes out that anyone with a 5 year and longer time horizon will be the beneficiary of. Hopefully get back to Economics 101 regarding how the stock market should work.
I'm pretty sure the stock market don't play by no fancy book learnin' ****. Econ 101?