The Fed destabilized the financial system the second they uttered cuts at JH. Gold went nuts. Unprofitable tech, quantum and other garbage went flying. Traders who were short this had to scramble to cover but also derisk elsewhere too. Violent moves ensued in both directions.

Now the second we get a wobble, they will do what they always do: throw money at the problem. That is all they know how to do. Markets of course would love this. So if stocks rebound, dollar weakens, FCI will loosen and we get new growth impulses. That's good.