baletwine...
I am not sure how to answer your question. I assume you mean the rally from the beginning in March, but to quantify how much is due to the Fed is impossible to calculate, or even estimate.
The bottom in early March was very clearly a Fed manipulation and the rally off the lows was also. If you mean what was the driving factor behind the rise each day the market went up and what kept the drops from being worse than they were on days when the markets went down, I would say almost 100% the Fed because I have seen almost no self sustaining rally occurring in this run, and I have not seen but a very few days (if any) that I saw no signs of Fed intervention.
What makes your question impossible to answer though, is that the Fed itself only works with a relatively tiny handful of stocks and on occasion the futures. The key to their success is that the handful of stocks they use are the market leaders, index leaders, tech leaders, and sector leaders so when they go up or fail to go down they have an inordinate amount of influence over what the rest of the market does. So while the Fed deals with a small number of stocks (and futures on occasion), it is able to exercise control over the markets as long as the volume remains relatively low and heavy selling does not come in.
As long as heavy selling does not come in, I expect AG to continue to drive the markets higher with only very short, shallow corrections. He has to drive the markets higher or see the US (and global) economy sink into a serious and long lasting recession with the very real danger of deflation, which is very, very difficult to get out of and has very serious consequences. Driving the markets higher is his only hope to stave that off.
I hope that answered your question.
mlsoft
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