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The only thing that's kept markets above water since the coronavirus took hold of the globe has been the $2 trillion stimulus package.
The three-day jump in markets was exciting, but the "stimulus overdose" did not last.
On Friday, the market's three-day rally ended on news that the U.S. now led the world in highest number of coronavirus cases.
Then Monday, the Dow rallied over 600 points – about 3% – on a few "good" news items. However, with the Dow down Tuesday, this sentiment isn't sticking.
Instead, hedge funds and money managers got a second chance to "rebalance" their portfolios by cutting risk.
The week of upward movement was simply a swapping of securities from institutions to the retail public.
The up-and-down leaves us with the question of when we hit market bottom.