Since it is obvious that Bernanke is now taking his central planning tips from Laszlo "Let Me Just Whip Out My Ruler" Birinyi, and is dead set on growing the market in basically a flat line (there has been no volatility in stocks in the past 6 months - none), we decided to extrapolate the market based on the Woods Hole event, and determine when stocks will take out the all time previous closing high of 1,565.15 from October 10, 2007. In a nutshell: at the rate of ascent demonstrated since the confirmation of QE2, the S&P will pass its all time high in 96 working days, and will hit a fresh all time high on June 27, 2011 (roughly at the time housing will be about 40% down from its all time highs, and real unemployment adjusted for labor farce [sic] participation is 13% and real U-6 is 23%). Put that date in your calendar. Presumably at that point Bernanke will concede that he has created enough of a "wealth effect." Although since by then we will have started QE3 for about a month, we may well surpass Zimbabwe's daily average stock market gains 250% of at some point in Q3, and put von Havenstein's "wealth effect economic miracle" to shame in Q4.
Some other observations:
In case the Chairsatan does not think that a new all time high is sufficiently manipulated and decided to keep pumping the market at the same rate of growth, one year from today, the S&P will be at 1968,79, in two years it will be at 2,610.44, and in three years it won't matter as a loaf of bread will cost a few quadrillion dollars.
Next up, we will extrapolate the cost of wheat, corn, rice, cotton. To cut the suspense, we expect a 100% growth in 2 months, a 1,000% growth in 6, and it goes exponential from there.