S&P 500 — The character mimics the first wave of Coronavirus Bear Market

After a sharp sell off on last Thursday followed by Friday’s automatic rally, S&P 500 ended merely closed above 3000. The automatic rally on last Friday was relatively weak without even attempt to recover level 3100. It also created a lower low, which was a sign of weakness (SOW), which I mentioned in my market roundup posted on Sunday. The character of the down move since last Thursday does mimic the sell off in Feb 2020 triggered by the Coronavirus.