There must be some kind of way outta here,
Said the joker to the thief.
There’s too much confusion,
I can’t get no relief.
While these famous words from the song “All Along the Watchtower” were recorded all the way back in 1967, they seem very fitting for the situation we find ourselves in today, over 53 years later.
But it’s not necessarily relief from the worst pandemic in over 100 years that traders and investors are necessarily looking for right now (though it would certainly be welcome). Instead, it is relief from another source that would continue to push the market higher.
From the market’s perspective, the “way outta here” is through the Federal Reserve.