I am by no means an expert, but when I look at the charts for the SPY, NASDAQ and DOW I feel they have created themselves and buffer from which they can safely fall. A buffer made from QE. I feel as though as the SPY and NASDAQ will be sacrificed to protest the DOW, where the banks are.
I don't think the FED would bail them out this time so everything is being done to protect the DOW and therefore the banks (where they reside) from crashing too hard. Just look over the last few weeks to see how the DOW has not dropped as badly as the others.
How do the banks get out of their over leveraged messes though? Citigroup/Credit Suisse are in a hole. Maybe the big guys have used QE to create a buffer knowing the smaller ones might bite the bullet.
As soon as covid hit, they must have thought protect the banks at all costs. What do people think?
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