I thinks its important to read bull/bear research for balance....

I thinks its important to read bull/bear research for balance. There is no doubt Fed is propping up both debt and equities, but on the equities side, they don't own/stay, just pumping liquidity to prop-up and get equities across the bridge to post-covid better times.

Mr market is forward looking, but it seems Fed helicopter money is extending how far the market is prepared to look. Nonetheless, the hole in the global economy is huge, and of those S&P 500 companies who have guided for June Qtr, earnings are down ~36% while share prices are up 16% on average, what could go wrong there, particularly in 3 weeks time, when those coy's start to report their June Qtr earnings, not to mention central bank economic data.

I think it's going to better than ugly, therefore, logic suggests a shite show, and with a 52% gap between guided earnings and share prices, does the market rollover and retrace 26% to bring those coy's back to reality, not cheap but maybe fair value.