20% of people invest in stocks, and these people control almost 50% of wealth in America. A major goal of QE is to pump the market up to generate a wealth effect for these people, and (hopefully) pull the economy up with it. You can see that this happened by checking out the SPY chart from Nov. 2008 (QE1) onward.
As the other commenter noted, don't fight the Fed. Contrary to what you read in the popular media, they know what they are doing. If you hopped on board in '08, you got massive returns the past few years.
The Fed is pumping money into the system, and has said they're going to do it indefinitely. The stock market is going up (at least in nominal terms).
At least, that's where my money is.