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What’s Next, V-Bottom or Trading Range?

With the S&P 500 (SPY) and Nasdaq 100 (QQQ) having rallied back to their 200 dma, US markets have made up a ton of ground in a very short period of time.

Will the 200 dma serve as resistance, essentially pushing stocks back to their lower trend line, or are we witnessing a full-on V-shaped recovery with ATH’s directly ahead?

Consider: 

1) Each leading index is hitting overbought levels (but on our short term oscillators only). 

2) Investor sentiment has rallied from weeks and weeks of extreme fear readings back towards “greed” levels (but nowhere near extreme greed). Recent put/call ratios have been very low.

3) Will these declining 200 dma now serve as resistance?

4) Since the markets have rallied on the “rumors” of trade deals, will they now begin to “sell off” on the news of comp...