Equity markets have rallied dramatically since the March lows following the COVID-19 lockdowns. Some US markets have even risen above pre-COVID levels.
This is despite the true impact to the real economy (global recession), and a raft of fundamental concerns including record unemployment rates, ongoing disruption to how the world does business, risk of further waves of COVID-19 infections, potential renewed lockdown, global protests, growing political unrest in the US, and increasing tensions between China and the US.
It goes to show how inherently difficult market movements are to predict through fundamental analysis. A systematic and diversified approach to trading with defined entry and exit points takes away the stress associated with moves like this.