We have closed the short here an expect a temporary rebound.

As the S&P is strongly oversold on weekly and daily timeframes and also have hit the 33% retracement of the 2009 bull market as well as the 2009 secular uptrend line, and we had major stimulus announced, we belive this rebound should last a bit.

Once the US realizes that COVID-19 will spread further in the US and likely can't be contained as effectively as currently still assumed, another downleg might begin.