The Nasdaq Futures closed slightly higher on Sunday afternoon after a week marked by steep losses. They were also ahead of big earnings weeks for retailers.

Futures linked to this tech-heavy index increased 0.6%. Dow Jones Industrial Average rose 0.1% and S&P 500 futures added 0.2%.

The Nasdaq Composite posted Friday’s strongest single-day gain in over a year with a jump of 3.82%. The Dow rose 466.36 points, or 1.47%, while the S&P 500 climbed 2.39%. All three averages still posted losses in weeks. 

The gains came as investors went into relief rally mode to cap off a bad week for stocks in which the S&P 500 nearly descended into bear market territory.

The question is still open as to how long this rally lasts and how many stocks will fall further before we see a bottom in the downtrend.

Quincy Krosby is chief equity strategist at LPL Financial. “Given history of bear market, along with the fact the Fed just began its rate-hike cycle, and would prefer to see financial conditions tighten further so that demand pulls back further,” he said.

Analysts and investors agree that the bottom may still be in but there are great buying opportunities available at current market lows.

Sylvia Jablonski is the CEO and chief investor officer for Defiance ETFs. You’re locking yourself in to inflation if you have a lot of cash. It is better to invest in assets or equities that you are passionate about than in the rest. Selling fatigue will recede and the market will recover. It’s unlikely the Dow and the S&P are going to be in correction territory six months to a year from now.”

The retail earnings season begins this week, with many big-box retailers reporting results for their first quarter. Deere, as well as a few technology companies, will also be present.

This week’s retail sales data will be of interest to investors. It could provide insight into retailers’ management of inflation. Inflation remains at near-40 year highs.