Even more important than fiscal support moving forward would be the concept of Covid-19 very soon being effectively treatable for the public.
A Wall of Worry, Fed-created liquidity, and aggressive speculative trading is creating a bullish environment for stocks.
BMY's announced acquisition of MyoKardia for $13B comes less than a year after its purchase of Celgene.
These names are displaying both technical and quantitative deterioration.
This is what's known as a positioning week, and starting Monday you're going to hear a ton of things.
Compare this action to what happened back in February and March when the Covid crisis first started to impact the market.
There are a couple of things that are helping to contain the selling.
There were some positive technical events Thursday.
The news is likely to impact economic confidence of many people when they hear that even the President can catch Covid.
Suddenly, both sides realize that they have played politics and the people had noticed. Not those two from Tuesday night. Thankfully.