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Trading Lessons

How To Approach This Market Dip

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Written by Timothy Sykes
Updated 7/17/2024 5 min read

The market took a HUGE dip yesterday.

The S&P 500 ETF Trust (NYSE: SPY) fell 1% and NVIDIA Corporation (NASDAQ: NVDA) fell 7%.

There’s a lot of speculation right now around the events that caused the selloff …

I’ve got all the details. And I have a plan to trade amid this bearish price swing.

First, take a look at the SPY and NVDA charts below, every candle represents one trading day:

SPY chart multi-month, 1-day candles Source: StocksToTrade
NVDA chart multi-month, 1-day candles Source: StocksToTrade

This is one of the reasons why I love trading:

I’m not exposed to market swings because I don’t hold long-term positions.

This price dip will slightly affect my trading, but I’m not worried about it. Like a regular investor might be.

In some ways … My trade opportunities are MORE obvious now that the market dipped.

Why Are Stocks Pulling Back?

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