Market has not found the bottom. This was a dead cat bounce, with volatility indexes still through the roof. It cracks me up when, followed by s 2,000 point drop, the very next day, a 1,900 point gain has people saying, "See??"
They are both bad. They are both volatile. And the market has not yet found it's bottom.
What is your data to back up your assumption?
Common sense, and technical data such as the VIX and VVIX.
Do you think the companies on the exchange are 20% less profitable than they were 2 weeks ago? Do you think they lost 10% of their business yesterday, and gained back 9% today?
Of course not. Double-digit swings like we have seen the last 2 weeks
have never happened in modern history. It is UNPRECEDENTED. And violent.
To think this was a happy bounce off the bottom and the start of the big climb to 30,000, is actually pretty laughable.
I'm not a doomsayer. I think the market bottom will be much higher (maybe 18,000) than many on here, because fundamentals are sound and this is NOT a financial crisis. This is a CONFIDENCE crisis driven by the virus. And I am dollar cost averaging cash I have on the sidelines into the market, but not until next week at the earliest.
