This is a tough one because chart pattern history includes very few "pandemic-like" events. Normally things like unemployment go up for radically diff reasons for ex. So hard to rely as much on previous chart history to draw conclusions today...Opinions. Does this look like a bullish turn back up, or a fake out headed lower? Please reply. Thx.
My take: this is going to be a super-wildly volatile flag/pennant formation, with potentially some strips of the flag ripped off waving lower.
A few trillion in cash injected is NEVER bullish, but be ready for a second wave of insane vol and maybe some lows as Q2 data rolls in. NEW lows may happen if a second wave of C19 deaths begin to happen.
That said - all that money coming out of travel and other stocks isn't just going to sit. So I'm standing by Amazon, Nvidia/AMD/other semis&gaming chips, and largely tech stocks as a whole. A certain amount of money pulled from weak areas will find it's way here and I dont think these stocks will suffer anywhere near as much, if at all.
JMHO, trade carefully.