There are a few ways to gamble on a market recovery or a market decline that are efficient, lower cost and relatively easy. There are some ETFs that deliver multiples of the underlying index on a daily basis. You can buy and sell them like stocks (they are exchange traded funds), and they tend to behave well on a one-day basis.
$TNA - for up days
$TZA - for down days
Are we in a recession? We don't know. There is no confirmation. However, credit quality will give clues:
Game theory suggests you should sell stocks before a recession is confirmed (tweet below).
US Equity Futures: still green