The Fed meets June 20th. The only reason equity markets have been up at all for the past three years is: printing, printing and more printing, accompanied by interest rate suppression and debt monetization via Federal Reserve purchases of Treasury bonds.
Should the market slide extend itself (and especially if short US bond rates go negative), I think it likely that we'll get one more injection of QE liquidity - i.e. - another dose of monetary heroin from our friendly neighborhood dope dealer, Bennie "The Pump" Bernanke.
And it will work - for a brief time; far briefer in fact than the last "fix", which has worn off and left the economy shivering, curled up in the fetal position, sweating and rocking back and forth. After that, there's nothing left but withdrawal. And it's gonna hurt like hell.
See my #45. We said it differently and brought up different specifics, but I think we are on the same page.