Likely priced in with infinite Fed QE support. The U.S. stock...

Likely priced in with infinite Fed QE support. The U.S. stock market is very detached from the economy. I do however believe volatility could start to unwind over the coming months, once the reality of this recession sets in and Repo tapers. Bear thesis could see the S&P 500 retrace to 2350-2500, but it's unlikely to take out the Covid-19 low.

With respect to APT technicals, RSI can stay overbought far longer than one would expect. If this run ends, and we do get some meaningful profit taking. I'll look to re-position my hedge to be net short. Never marry a stock...