One school of thought says the S&P 500 recently entered correction territory, which is typically defined as a 10% drop from a bull market peak. The index arguably slipped below that threshold last week, but that viewpoint is predicated on the idea that a new bull market started in June.

Another school of thought says the S&P 500 never left bear market territory, which is usually defined as 20% decline from a bull market peak. The index last reached a record high on Jan. 3, 2022, and some investors believe it must reclaim that level before a new bull market begins.

Either way, history makes it clear that the S&P 500 will eventually rebound, so investors should treat the current situation as a buying opportunity. Here's why I'd buy shares of Cloudflare (NYSE: NET) and Amazon (NASDAQ: AMZN) in a heartbeat today.

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Source Fool.com