If you bought stocks on Monday with me, you should be looking to take profits on those positions near the end of this week – especially if the S&P rallies up to an obvious resistance level.

Recessions and bear markets tend to go hand-in-hand. Here's what you can do to prepare for a bear market and how you can profit. As you’ll find out, there are plenty of ways to make money when a bear market strikes – from buying precious metals, to betting on bonds, to using options to profit from rebound rallies.

Conditions are too oversold. We’re due for at least a reflex rally to relieve those oversold conditions. You’ll likely do better waiting to sell into that bounce rather than selling into the current decline.