The S&P 500 has tripled off the March 2009 lows and took a mere 65 days to go from 1900 to 2000 today. As WSJ notes, the S&P needed 11,208 trading days to reach 100 for the first time… Here’s a look at S&P 500 milestones throughout the decades… and how Bernanke predicted 2,000 in March 2013.
Source: The Wall Street Journal
Which has left stocks "rich" to The Fed as they have more than priced-in balance sheet expansion that is left…
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And If you are surprised by any of this… Bernanke signalled it all way ahead… in March 2013!!!
as we said at the time…
Given his reiteration last week that the Fed is here to stay – and his fellow dovish lapdogs' confirmation that we can all rest assured that our 'wealth' is being protected – we know that the Fed balance sheet will hit around $4 trillion by year-end. Given the hyper-correlation over the past three months between US equity performance and the daily pump of POMO, it appears clear that Bernanke's target for the S&P 500 by year-end is around 2000 (unless of course you think there is even a little bit of market efficiency and discounting left in the world).
Is this what the Princeton Professor is looking for?
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But it's gonna be over soon.
via Zero Hedge http://ift.tt/1zAB94L Tyler Durden