I reset the date axis to show a bit greater time frame. Seeing how the v-Wave and markets reacted to the 2018 year end low and how they responded to the Coronavirus low gives a bit more clarity, I believe.
The recovery from the year end low in 2018 was done without driving the v-Wave to risk heights that have been typical since near the end of 2020. Early 2018 risk was closer to what we've had recently.