It should now be clear the Fed isn't out of bullets until it is no longer able to print dollars of value.
The seeds of this government takeover of markets were planted more than a decade ago.
Buying the market here is about pricing the economic recovery and the end of financial damage being priced into these stocks.
The positives and negatives of this week.
Hiring completely froze even before the stay-at-home orders started coming down.
Jobs news will provide some data points, but we still have little idea of the extent of the economic damage that will occur.
Where there is pain there is also opportunity.
Most of the Fed's programs have been aimed at financial markets functioning.
The VIX indicator typically shows higher levels when fear, doubt and uncertainty rise to a level of panic. That often subsides quickly, but not this time around.
I do believe that having no economy is temporary. I also believe that what comes out on the other side will be smaller, far less global.