This is off topic for bonds but I try and read a lot of interesting stuff about investments including views that are opposite to my own. For a few years I have been following posts by Avi Gilbert on the US focused "Seeking Alpha" forum. He uses Elliott Waves and fibonacci numbers to track sentiment in investment markets. He has posts that explain the method. I was extremely sceptical to say the least when I first came across it but I like to keep an open mind. In November 2018 he recommended buying long US treasuries as US interest rates were going up. Nobody else considered that and it seemed a crazy trade. Yet he was right and stocks fell 20% and treasures gained 20%. At the end of 2019 he said there was a good probability that the S&P 500 would fall to 2200 (a 30% correction) and the first quarter of 2020 was key. Again this wasn't taken seriously but look where we are as Q1 comes to an end.
Now the ray of hope. He isn't always right, that would be impossible, but he seems better than average. He has said this fall is part of a longer term wave that will see US stocks reach at least 3800/4000 in the next few years. His actual forecast are only for subscribers but it seems he feels if 2060-2200 holds on the S&P then that could be the bottom i.e we are almost there (but not quite). Remember stock markets often rise just as things in the real world get really bad and everybody gives up all hope.
He sees another lower probability possibility that this is a massive correction and we have a lot further down to go. However even if this is the case the market is unlikely to go straight down. He suggests past crashes have had large rallies within them and there would likely be a 40-50% gain before we head down again.
So either way he feels a rally is coming in the next few weeks and more importantly at the moment markets are doing almost exactly what his charts have been predicting.
Please don't shoot the messenger. I'm not saying he is right and we should buy stocks. I can gives as many reasons as anybody why technical analysis is wrong and these are clearly unprecedented times. However sentiment (fear/greed) does influence stock markets and he tries to capture that. At the moment I'm giving him the benefit of the doubt and watching with interest . . .