The equity markets across the globe have shrugged off the coronavirus fears due to massive intervention from the central banks. Many key commodities have sold off significantly because of falling demand. Now with limited corporate buybacks, many corporations are running out ammo to manipulate the earnings to appease the investment community. The QEs from the Fed has disillusioned investors to think that this bull market has no end in sight, but as we all know this party cannot last forever as the fed induced multiple expansion cannot be expanded forever. The demand for oil has collapsed following the outbreak and the oil prices fell accordingly because there is no central bank intervention in commodities. The stocks have shrugged off the coronavirus courtesy of the mindset that Fed will come to the rescue again. Thanks to the free money printing from the Fed and the tax cuts by Donald Trump, many corporations have taken on debt in astronomical numbers. Now, with limitations on the stock buybacks setting in coupled with falling earnings we think the decade old bull market will come to a screeching halt as the next corrective pattern takes hold in the Elliott Wave cycle.