No matter what the Fed does it can’t stop this Bear Market. Everyone’s afraid of Covid-19 but I’m willing to bet there’s a major structural event happening under the price currents. I’m not one to catch a falling knife so I’m staying on the sidelines for a while longer. Why? Sadly, I think the positive cases of Covid-19 will increase and so will the fatalities. We haven’t seen complete panic yet but when a few ‘rich’ people or politicians get sick and even die then it will hit everyone across all economic classes.
Price moves have been so violent and sudden that this is mindboggling. We’re now eating away at gains made during the Obama years. I think we might test 1880-ish on the S&P500. That goes back to early February 2016.