What is going on in the US markets with the recent 3 day rally amidst news of high unemployment rate? What are your personal take on where the market will head from here?

Recession is already here, and the question now is whether it's going to turn into a depression. If you believe Warren Buffett, he looks at this particular indicator that is at an all-time high, which means that valuations are still super high compared to fundamentals, and it will eventually come crashing down.

Short covering.

If I had to guess on second question, likely to head lower. Numbers for next quarter have yet to be realized. I put money where my mouth is by reducing my DCA amounts.