I have I have been a watcher of markets since I was 14 years old, 1956 born, and I bought my first share sometime 1990,but in all these years I have never seen anything which has threatened to stop all economic and consumer activity. somebody did forecast that the end of the world would take place in 2020. when fundamentals are so bad can technicals be far behind. if I was to read the chart only I would say that we should head to ATH from somewhere around here only because technically there is no reversal WITHOUT THE FORMATION OF A LOWER HIGH. if you see any chart on any time frame, the real selling always comes once the lower high forms. we are already in panic mode, so even the slightest bit of 'good' news will trigger an explosive up move. stock markets sometimes consider the cessation of bad news as good news. also this down move technically is just filling all the gaps the market made on the up move which consisted of all up bars only. but the elephant in the room is that the market has got the most bearish fundamentals that I have ever seen in 33 years. but the market may bet that it can only get better from here, and I have seen the market use this seemingly absurd ,but logical, reasoning, to begin an up move.