Mental health admissions show up more quickly – with the entire effect appearing the first bearish day of a market equity drop. They even studied the 1987 crash and found that admissions jumped more than 5% after the S & P 500 index plunged 20% in the “Black Monday” crash. According to Engelberg, people get stressed out, anxious, and depressed when the market performs poorly. The effect of a drop is twice as strong during periods of low volatility because “extreme returns are more surprising to investors”. They go on to say “Your expectations are set by what you experienced in the recent past”, so if the market has been calm and you have a bumpy day, it causes more stress than if it had been bumpy for a while. Smooth out the market bumps by having a trading plan that makes money regardless of the market direction!