Where is this money?
According to ICI with 2007 years left the market 229 billion dollars. Truth, the flow of money to long-term mutual funds has increased slightly recently.
This is the cash flow for the last 4 weeks of december.
This is the cash flow from the beginning of the year to December.
This is cash flow from 2007 of the year, where you can see, what 229 billions went out of stocks and 486 billion went to bond funds.
It turns out, that the market in the states bounced off the bottom even without significantly raising that money, that the shares have gone.
And if this liquidity decides to enter stocks again ?