Coronavirus has nothing on the Fed, for now. Economy reopening is what the market wants and that is what it got. Will the new cases slow the market down? Short of another full blown lock down, does not look like it. Will be interesting to see how earning factor in.
I am still bearish enough to wait it out for a few more days. It is not a slam dunk yet. IMO, I don't want to be holding anything over the holiday weekend just in case. There is still a chance this is a 3 corrective wave rally that makes a big drop when earnings come out. I am up from 60% to now at 80% convinced this is a new motive wave cycle. Will it gap up this morning and drop, possible. IMO, I expect it will push to 3184.