COVID19 impact on indexes

As seen in the graph, the impact of the covid crisis on the world reference index is not being as devastating as other crises such as the 2008 financial crisis.
eco_SP500_1Y_2020 This is mainly due to the support of the federal reserve to the economy through three actions:

Although it has not yet made official that it has bought shares, the purchase of bonds has made many short positions that aimed at the fall of at least 50% of the index stopped when it had already eaten 30%. The purchase followed several days would make the big hedge-funds give up. That 50% around 1700 points coincides with the 3-year average of the index (blue line that only in 2008 was able to drill in the history of the index.
In the market, funds that have withdrawn their equity capital to more defensive places such as gold or long-term external debt have not emerged yet, being an unknown when they will re-enter as many of these funds await a second correction. .

Chronology crisis of the COVID19 in the SP500

In March, the worst fears were confirmed when the virus moved to Spain and the death toll in Italy began to rise to more than 1,000, which suggests that it will spread to all of Europe and that there may be a productive hiatus throughout the continent.
There is a first bounce in which the indices will recover the 3100 points and it will only be an opportunity for many funds to withdraw positions in equities en masse, as well as a possible increase in short positions in all indices. Many retailer that had the shorts long before could think of going out especially in the USA that saw COVID19 far away. With which they would not take advantage of the opportunity, in fact many put lengths thinking about such a short rebound in V because the economic data of the USA does not correspond to the magnitude of the fall.