Are You Bullish at These Price Levels?

The sky is the limit as investors continue to believe that QE2 is the panacea to an ever-rising stock market.  This is what the QE1 has given Americans so far this year:

1. 1,431,853 bankruptcies 
2.  90,348 foreclosures
3.  132 banks shut down
4. 27,347,499 unemployed Americans 
5. 42,947,425 Americans on food stamps (That is one out of seven Americans.)

Therefore, the crazy logic goes something like this: If the first trillion dollars did not cure our economic woes, another trillion dollars will surely do the trick.  If QE2 does not work, there will be QE3.  So why worry, because the Fed has everything under control.  Right?  Now, let's get back to the S&P 500.  I don't know about you, but these price levels are more conducive to an intermediate market top, rather than a market bottom.  What do you think?