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Birinyi Says S&P 500 Could Reach 3,200; Japan Analyst Calls For Dow 100k

The S&P 500 could increase more than 50% from its current level to 3,200 points over the next two years, according to Laszlo Birinyi, the founder and president of Birinyi Associates.

During an interview with CNBC’s Fast Money: Half- Time Report on Tuesday, Birinyi explained, “Most people don’t realize that we are now in the second greatest S&P500 rally in the history, and we are actually ahead of the 1990 rally.”

He added that the S&P 500 could hit over 3,000 points by 2017 if the market continues to gain 11 basis points a day just like it did over the past six years. "What we're really trying to tell people is to stay with it. Don't let the bad news shake you out. There's no reason why we can't keep on going,” said Birinyi.

CNBC noted that the S&P 500 increased more than 50% over the past three years. The index gained almost 2% year to date.

Birinyi ignores global trends, critics say

Birinyi ignored the global trends that are happening such as the stock market crash in China and the impact of Greece’s situation in the European region, which made investors worried. He considered the events as “market noises.”

On the other hand, Bill Fleckenstein, a short seller told CNBC that the entire market is probably heading for calamity over the next few months. Fleckenstein correctly predicted the financial crisis in 2007, and nine out of the last five recessions.

But if you think Birinyi is bullish just wait till you hear this - and no it is not Jeremy Siegel. Two months ago an analyst at a...