Impact of QE on equity markets

Hat tip to DoubleLine and their package of charts. A close analysis of quantitative easing on equity markets shows some interesting patterns, or more importantly, there is only one interesting pattern. If there is loose monetary policy, the stock market will rise.  When the Fed takes the foot off of the petal, there is only a limited rise in stocks. How may ways to do you have to say it, "Don't fight the Fed."

Or, for the current period, if the fed is not providing liquidity, be careful!