Coordinated Easing

They say you'll fall in no time at all
But you know they're wrong
But known it all along
--Jackson Browne

What saved the tape from breakdown a month ago? Hard not to explain the march higher in terms of coordinated easing among central banks.

Japan, China, Europe. Now Fed cuts rate raise outlook.

Central banks need asset prices higher if they are to keep the wheels on the economic wagon.

position in SPX