This event seems more similar to 1929-1930 crash than it does 1987 or 2008. Not only was the market overvalued in both but each had major economic consequences that followed the drop. I dont think this will lead to what was essentially a 3 year bear market like 100 years ago because of our more socialist tendencies now but I just dont see this being over and finished 6 weeks later...The negative implications of this virus are just now taking effect and i dont see it possible to keep having green days every time the unemployment # doubles.
Its possible maybe even probable that market increases on bad news are a testament to just how strong this bull was but I think we havn't seen bottom yet...right now I am just starting to see people on facebook selling things because their cash is running out. they will default on all of their loans (which are aplenty) and this effect will trickle up to the big boys eventually. Is the fed willing to support EVERYONE? I don't think so...