“They take the stairs up and the elevator down” is an old Wall Street saying that has been around for ages. It was always followed by; “what takes you two years to make you’ll lose in three months.” For a long time, the market always went down faster than it went up, this is no longer the case. They are taking them up just as quickly as they take them down. V-rallies are now a thing.
I’m not a fan of selling in the hole or chasing a frenzy. Sentiment has shifted from oversold can remain oversold to overbought can remain overbought, don’t buy into it. Don’t chase, allow the market either to rest via price or time, this ain’t the 90’s.