Common sense indicator discarded

 A common sense indicator is a basket of high quality earning vs low quality earning stocks.

For decades, high quality earning stocks have won over low quality earning stocks. That's ABC logic you will tell... Agree, but for the last months lows quality beats high quality; and not for a low margin, but there is quite an important gap between the low quality stocks leading the way.

Why's that? Well, as this article explains there are 2 culprits (I think there is more to the story):

One explanation is that this price action is being driven by the sudden influx of retail money into the market. Empowered by zero-fee brokerage accounts and starved for entertainment as they shelter in place, retail traders are buying like it’s 1999.

Ok, we know that idiots are buying TESLA stocks these days; money from idiots is still money, right?

Here is another reason:

In response to the COVID-19 crisis, governments and central banks have opened the floodgates of liquidity. Asset purchases of every stripe by the Federal Reserve continue to set record highs. In such an environment, actual corporate earnings hardly matter, let alone the quality of those earnings.

There you go: central bankers putting gas on the fire. 

Does that mean something? What do you think?