This is Not 1987
It will be much worse, this market will have to deal with the effects of the arrogance of Bernanke, Trump, McConnell, and Ryan before it finds stability. That will be take much more than a 33% decline. !987 was just 5 years into the 17.6 year 1982-2000 Macro Economic Cycle. We are now into the end of another 17.6 year cycle which was stretched by the QE’s and then had a cherry put on top by the Tax Cut Program.
So the main thing, be a seller on rallies. If you are quick you can play the bounces and some will no doubt be big. On the S&P it would seem that a wide 2688 to 2864 trading range with a swingpoint of 2776 is probable as the market tries to keep the 3 day average above the 200 day average around 2760.