I think the markets became extremely oversold on March 6 when the S&P touched 666. That move was probably a false breakout on the downside. Because he have had reach 741 in the S&P 500 on November 21 and on March 6 most actually did not make new lows and the sentiment was extremely negative.
In my opinion the market wanted to go up anyway and we had a strong rally. We are up 23% from the lows. I think this rally may have some more legs for the simple reason that if you print money, let`s say we all add one zero to our bank accounts, asset prices will move up accordingly.
We can go to around 880 on the S&P.
