Impressive wise : The sell off. I mean it was quicker and deeper than the rally. Surprising wise : Sell off + Rally I mean the probability of a 36% sell off followed by a 22% rally ? Back in January ? Very low. But I believe the implied low isn’t the true low.
It wasn't a suprise if you remember the March 2000 sell off. Same sort of thing, Nasdaq sold off around 36% and then a rally of around 30%. Back in January 2000 not many were predicting that, maybe some older timers had a feeling but i was just a newb, I had no idea that sort of thing could happen. But now as a 21 year market veteran, i had a feeling it might happen again at the 20 year aniversary in March this year. I just had no idea what the catalyst would be.
I don't buy long term only day trade. Regardless, with the upcoming housing market crash, earnings hits, unemployment, it will happen. If we don't hit the lows, we're very likely going down again near them
We've seen numerous 5% or so drops the last few years followed by a 3-4% rally within 1-2 days. Pretty much the same thing that has happened the last couple weeks, except now the percentage moves are way larger given the VIX was over 50 instead of being just 15.
Backwards. The fact the market was able to go as high as it did originally makes this rally totally unremarkable especially considering the Fed backstop behind it always and forever. Forever until ...