The SPY (S&P 500 ETF) is down around 4% in the last week. Mostly due to the newest COVID variant dubbed "Omicron." Keeping politics out of this as much as possible I want to say, the market is down based on the fears of government response to the new variant.
The economy is already having a tough time due to supply shortages. Of course it's easy to fear that any more supply/production constraints will push us over the edge.
Whether or not that happens, it's important to keep the market downturns in perspective. Throughout history, periods of fear and panic selling have been the absolute best times to buy in.
This is true for mid-to-long-term investing, but of course if you are short term investing you need to have a solid stop-loss point and the ability to find strong support/resistance levels.
Take the first COVID Crash as an example:
In one month, the SPY dropped 35%. If you were holding during that period it was no doubt scary, but 5 months later it...