Like COH below, this is another member of the $5 to $75 club. Who said we were in a depression. The Fed is creating another bubble as it pursues it’s third mandate, the first two are already irreconcilable as they are mutually exclusive (inflation/interest rates and full employment) and adding a third, surreptitiously through the backdoor, but nevertheless quite openly and deliberately, will just serve to confuse all and mostly the Fed itself.
The big picture is less clear, on the other hand wave A down is very clear. They will be buying more of their own stock which is almost always done at too high a price. Expect the rebound to get to about $61, then wave C should start.
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