Well, with all the bad news today and we still pulled a big rally to close flat. It's not too bad. But closing near 2400 is not a good place since price could swing either direction.
Interesting that the VIX futures falls is down alot today when market is up just a little. It trades like a bottom is in. There's a divergence here vs. the market.
If you know we are in a chop or entering one, it's much easier since range is defined. In this situation, legging in and trailing out strategy will be effective.
Likely not V to ATH. There's already enough damage to the economy this year, although, low rate and stimulus could help us get there sooner. Maybe 2021 to get back to ATH.
If FDA approves malaria drugs to be used within 2 weeks, we could have a V sharp recovery. It gets increasingly risky to short. Markets could rally like crazy any time.