Based purely on greed the S&P 500 might make a big and fast move upwards in the next months, now that the bear market idea is getting totally crushed by bulls since the Brexit vote. The bulls hope that the central banks around the world are going to keep on pumping money into system, which could drive equities even higher.
This rally might not last very long and stop in early 2017, but until then fully forget any fundamentals and enjoy the ride.
P.S. Please be aware that on a smaller time-frame the market might make a pullback before this strong rally starts here where the green arrow ends:
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UPDATE: 21 days later after posting the chart, the S&P 500 closed July at 2,173.60 points and the first day of August at 2,170.84 points.
Today I came across a well made chart analysis video filmed by Joseph Hentges, which shows several big picture things I also noticed. For example the resumed bullish moving average cross on the S&P 500 on the monthly - something which has never happened before in the last 26 years, which also shows the big bullish potential for the rest of the year:
Your thesis to ignore the fundamentals and count on continued intervention by central banks and steady provision of additional liquidity will likely proven to correct in the short term. But, speaking generally, this will not end well. Not sure about specific targets.
ChartArt
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I agree with "this will not end well", but what can you do when the system is being rigged from the top (central banks).
The stock market in China is starting to look better and better since I pondered the bottom idea 6 months ago. This could help boost the global sentiment about the world economy if equities in China rebound and fear about a deeper China crash calms down: