IMO, there is more downside as there has not been that capitulating sell activity. Probably going to see some big swings either direction with the trend down for a bit longer. Also when the slope of "new" infections chart levels off, that's when things will go back to normal and the idiot monetary policy will ramp again. Get ready for zero or negative rates.
When the virus thing is out of the headlines, any of the delayed activity will likely ramp into the next few quarters. As long as businesses can stay afloat with limited inventory. When you place so much of your economy and manufacturing in one location, you get risk of severe shock when the peasants can't go to work!!!
