Apple Inc. was sliding almost 4 percent lower at one point on Thursday, in sympathy with the general markets, which saw the S&P 500 falling almost 2 percent.
The tech giant holds a 6.2 percent weighting in the S&P 500, which often causes the stock and the ETF to trade in tandem.
The markets recently enjoyed a short bull cycle within the longer-term bear cycle that officially began on June 13, when the S&P 500 fell below the $3,852 level. The drop put the ETF down a total of over 20 percent from its Jan. 4, 2022, all-time high of $4,818.62.
For many retail traders, the current bear cycle in the markets is the first they’ve experienced, and most traders naturally have what is known as a “bullish bias,” which makes trading bear cycles more difficult. For that reason, patience is often the key, which can be difficult to practice for traders who enjoyed the massive bull run that followed the COVID-19 crash in March of 2020….