The market is finally doing what I said it likely would back in my 2026 Outlook. We’re now down about 6% from the highs, and more importantly, the tone has clearly shifted.
This isn’t full-blown panic yet, but it’s no longer complacency either. You can feel the hesitation creeping in. You can see it in the way stocks are reacting to news. And this is exactly the type of environment where investors tend to make their biggest mistakes.
They wait for clarity. They wait for the “all clear.” They wait until things feel safe again.
By the time that happens, the opportunity has already come and gone.
Yes, There Could Be More Downside
Let’s be honest about where we are. This pullback may not be finished.
Corrections rarely stop neatly at 5% or 6%. They tend to push further, shake out weak hands, and create maximum frustration before turning higher. With geopolitical tensions rising, commodities moving, and ongoing uncertainty around rates, volatility is likely to remain elevated.
Could we see an 8% or even 10% correction? Absolutely. That would be completely normal within the context of a broader bull market.
But focusing on calling the exact bottom is the wrong mindset. You don’t need to be perfect here. You just need to be prepared.
This Is When You Build Your Watchlist
The best investors don’t wait for confirmation. They prepare during weakness.
They identify high-quality companies, map out key support levels, and start planning their entries before the crowd gets comfortable again. That’s how you turn volatility into opportunity instead of reacting emotionally to it.
Right now, we’re starting to see several names approach levels that make them very attractive for long-term investors.
3 Stocks Near Key Support
Lockheed Martin (LMT)
Defense remains one of the strongest secular themes in today’s environment, driven by rising global tensions and increased military spending. LMT has pulled back from recent highs and is now approaching a key support zone that has historically attracted buyers. This is a high-quality, cash-generating business that tends to hold up well during uncertain times.
CBOE Global Markets (CBOE)
This is a name that often flies under the radar, but it’s uniquely positioned for markets like this. CBOE benefits from increased volatility through higher trading volumes and options activity. The recent pullback has brought the stock back toward support levels that have held in prior consolidations, making it an interesting setup if volatility persists.
Cameco (CCJ)
Nuclear energy continues to be one of the most compelling long-term themes, especially as electricity demand accelerates globally. Uranium is a critical piece of that puzzle, and Cameco remains one of the leading players in the space. The stock has corrected alongside the broader market and is now sitting near an important support level, offering a potential opportunity for long-term positioning.
The Bottom Line
This is where discipline separates successful investors from the rest.
The market is down, and it may go lower in the near term. But the goal isn’t to predict every move. The goal is to recognize when high-quality assets are becoming more attractive and to position accordingly.
Smart investors aren’t panicking right now. They’re building watchlists, identifying entry points, and preparing to act.
Because when this market turns-and it will-the best opportunities won’t come with a warning.
But that’s not the point.
Because the biggest mistake you can make right now is thinking you need to pick the exact bottom.
You don’t.
Here’s to the future,
Matt McCall
Founder, NXT Wave Research
