The last week in the stock market has been absolute insanity. On March 12th, the stock market officially entered a bear market. This happens when a major index like the Dow, S&P 500 or NASDAQ drops 20% from the high.
After that the Dow kept sliding, to a close of $18,591.93 on Monday of last week. From the high close on February 12th of $29,551.42 the DOW was officially down 37%.
Then, something unexpected happened. From Monday close to Thursday, the market rallied 21.3% the best 3 day rally since. On that note, the market officially exited bear market territory. This officially became the shortest bear market in history of just 11 trading days.
On Friday, the market dropped 4% putting us back to 27% below the February high close. So, is the pain over? My guess is not… here’s why!
Un3mployable (Motivational Canvases):
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