It's all a house of cards making no sense given pandemic, valuations, unemployment etc.... but we've got to play the cards we're dealt. Fed propping up markets can't go on forever
you are preaching to the choir man...i was one of those gay bears last spring that were balls deep in puts mouth watering for unemployment numbers...record breaking horrible numbers were released and market gaps up so hard my butthole fell off. learned a hard lesson through all of that to trade with my eyes and not my mind (logic, expectation, etc...).
SL002S - the FED only bought bond ETF's in the article that you posted. Technically, it wasn't really a surprise. bond market has been their play ground. Probably, at some point in the future, they might tiptoe in the equity ETF markets. bailing out small money like those stimulus checks and payroll tax cut is the new theme and strategy for the FED (versus the top-down big money bailouts in the past).
No, most of the talk about the Fed on here is pure bs they'll never buy equities and they don't care about stock markets other then to prevent huge systematic shocks to them. S2007S and others don't understand corporate valuations at all and are forever trying to put a market wide P/E of 3 to 5 ( not that they are even aware that they are doing so ).