Friday's surge was a world wide coordinated purchase of key index stocks by central banks timed to create a green close before the weekend and in the USA to create a massive case of bad news (state of emergency) to come across as good news ("we are in control"). Look at the volume pattern all afternoon. Just solid buying with no thought other than pump up the prices. A lot of trading platforms were down too so they prevented people selling in to the rally.
A deep red on Friday close would have set up for a major panic on Monday. But with the world heading for lockdown and millions of businesses staring bankruptcy in the face and workers heading for the dole queue and banks with no spread between deposits and loans in a zero rate environment, can artificial pumping be sustained? Won't all those who care about their wealth getting destroyed sell into the rallies leaving the reserve banks toothless?
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