Forget buying into this market, imo: 1. We are no where near peak spread of covid 19. They’re saying late April to mid May. It’s going to be day after day of school closings, airline stoppages, business closings, etc. 2. There’s a good chance this will trigger a global recession and the US in particular is facing a rough one because our deficits are much too high. If you can time the dips, good for you but if you got cash then sit tight for a while - that’s my advice.
2750 was a support level (that was my target but I never thought we'd get there at light speed) Others had the same target obviously and had limit buy orders waiting. So the bounce can be expected. I think anyone not trading but buying for longer hold are probably buying too soon here. That 2750, by the way. is just above the midpoint of the long term S&P channel and about a 19% correction of the high. Many will see this as a safe buy point, but in the current triple whammy situation I think the odds favor a lower market yet, possibly to near the bottom of the channel.