So let's just review our chances for an Easter recovery.
We just exceeded China on the number of infected people. But we haven't come anywhere near close to China's (or Singapore's, or Germany's, or Italy's) response to the pandemic. We have consistently failed to act, taken half measures, and not done what needed to be done, even though the writing has been on the wall since January.
I mean look at the pathetic lack of response. People can still fly in and out of NYC, the most infected zone in the USA. Many officials continue to do nothing or worse. NYC's infections are doubling every 4 days.
It's not "if" the death rate increases dramatically. It /will/ increase dramatically. Simple math.
The problem with dear leader saying a hopeful date like "Easter" is that you get a nice little bounce now, but when Easter rolls around, and all the dead people are piled up, that's not going to spark enthusiasm to invest.
I don't know when the next drop will be, but I strongly believe there will be another drop. Q1 earnings are going to be devastating. The next unemployment figures are going to be devastating.
This is a dead cat bounce. It's FOMO + day trading.
I went all cash a while ago, and I'm staying all cash for the foreseeable future.