looking back at the markets reaction to the pandemic it strikes me that it has been 100 % " knee jerk" reactions
1) first the market ignored the pandemic in China
2) then in one day it crashed in a " oh crap the pandemics real " moment
3) then it rocketed right back in a day on a "hey the doctors say it will be ok " moment
4) then it crashed in a few days in "hey the doctors say it wont be ok moment "
5) then it bottomed when the big boyz jumped in doing bargain hunting
6) then news of a vaccine - it rockets
7) then news of vaccine not working - it crashes
8) then news the vaccine might work after all - it rockets again
9) then it climbs a wall of worry as folks eye the 200 and think about all the free money from Powell
10) then it rockets on news that states are opening and "things can only get better from here "
so where are we now ?
if I had to guess it rockets until folks realize the new normal might not be enough to keep small business going
