Investors Who Are Assuming That The Fed Will Bail Them Out...Are Likely Going To Have A Long Wait

It's not the Fed's job to prevent stock market corrections, bear markets, or even recessions.

In this weekend’s piece, we discuss why it is very unlikely that the Fed will step in with an aggressive “Fed put” until the stock market has fallen a lot more than it already has so far…..We also show how the stock market is still trading well above anything that can be justified by today’s fundamental outlook…..Finally, we highlighte the levels…which, if broken…will signal another meaningful leg to the current decline in the stock market has begun