It's not just the Powell Put. The stock market also benefits from the Trump Put. Anytime the market falls Trump simply tweets something positive about a pending trade deal with China. Since Trump can't play this card if an actual deal is made, his incentive is not to make one!
Related trading tickers: SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), SPDR Dow Jones Industrial Average ETF (DIA)