DOW is in Bull market at this point of time. Pension funds are going to re balance their portfolio and moreover FED and Fiscal Stimulus are going to be major drivers to push the stock price. Earning season is also on the horizon. So there will be lot forces in play to counter covid 19 crisis. One fund manager even closed shorts (earned around 2 billion) and purchased stocks without any hedge during these three days ending today.
And that is why I don't buy actively-managed funds, LOL. Those guys don't know any more than you or I what the market will do. Neither do the talking heads on TV who have advertising slots to sell.
If you draw fib levels from February highs to today, you'll see on daily charts that none of the major indices have been able to hold a 38% retracement. The Russell hasn't even come close to the 38. Looking at the same draws on a weekly chart shows a similar picture except that the Nasdaq looks to be rejecting price closer to the 50% retracement instead of the 38 this morning.
No one knows what the market will do. I'd love to think the bulls are back in control. But I'll believe it when the higher time frame charts tell me, not when some fund manager or TV personality says it's so.