Have XJO bottomed today, page-27

Bloomberg article this morning, Another opinion for what it is worth
Markets Goldman Sachs Warns S&P 500 Might Not Bottom Until 2,000

For investors asking whether Friday’s stock rally marked the bottom of the current rout, Goldman Sachs Group has an unpleasant answer: not yet.The firm’s U.S. chief equity strategist, David Kostin, says the S&P 500 will likely head back down by almost 10% in the next three months to 2,450. And if the economic fallout from the spreading coronavirus deepens, the rout can take stocks down another 26% from Friday’s close to 2,000. That’s 20% lower than the bottom he called just last week.Kostin warned that the spreading coronavirus will damage profits and harm the economy to an unpredictable extent as governments scramble to contain the outbreak and companies face forced interruptions to their businesses.“The coronavirus has created unprecedented financial and societal disruption,” he wrote in a note to clients. “The combination of thin liquidity, high uncertainty, and positioning could cause the S&P 500 to fall below our 2,450 base case estimate of fair value and closer to a trough of 2,000.”