Last time I read people with similar comments was the housing bubble
Asked why event he corona virus hasn't harmed the market . .
"Peter Boockvar, chief investment officer at Bleakley Advisory Group, thinks the explanation is simple: It's about overconfidence in the Fed."
"I think the stock market is just under this belief that no matter what comes our way the Fed is going to save us," he told me. "I honestly believe it's as simplistic as that."
"He has a point: The S&P 500 has added more than 12% since the Fed stepped in to rescue overnight lending markets last September. Purchases of short-term bonds known as T-bills, announced in October, have helped loosen financial conditions. The real test, Boockvar notes, will come when the central bank stops expanding its balance sheet, possibly in April."
the article goes on to mention a very good fundamental though:
"Earnings update: 77% of S&P 500 companies have reported earnings for the last three months of 2019, and 71% have beat profit expectations, according to FactSet's John Butters. More importantly, fewer companies than average have lowered their expectations for the first quarter, feeding the sense among investors that the business impact may be short-lived after all."