If you think this will become more than a bear market rally

JPM's Kolanovic reiterated his bullish market view yesterday. If you believe this will transform into something bigger than just a bounce, then consider the following plays according to the investment bank:
1. Longs in small-caps (P/E ratio is below Lehman bankruptcy and peak COVID)
2. Longs in Biotechs (~1/3 of the companies trade below cash)
3. Long China (reopening and stimulus are powerful tailwinds), including Tech/Internet4. Long Cyclicals vs. Short Defensives