I think option 2 less likely based on Jerome Powell's comments overnight and recent weeks
The Fed is clearly willing to pump as much money as needed into financial markets to prevent another collapse
On the other hand, there's a compelling case for an imminent downturn - fib levels, sell in May, post-FOMC, etc etc
So I'll go with option 3 - a long, slow, non-linear downtrend - commencing over the next several days
anyone for 6 trillion?, page-293
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