Bloomberg reports JPMorgan Chase & Co.'s Thomas Lee as saying that the recent tragic earthquake in Japan has pulled down the S&P 500 to "very bullish" levels. Moreover, Lee is predicting that the index will rise to 1,425 by the end of the year.
At the time of writing (21st of March, 2011) the S&P 500 was down to 1,279. Therefore the above prediction implies an 11% increase in the S&P 500 by the end of the year. This also works out at about 1.2% per-month. By comparison, between January and December of 2010 the S&P 500 rose from 1,100 to 1,250, or about 14%.
Resources related to the Japan earthquake and recovery effort.
Bloomberg on Wikipedia
JPMorgan Chase & Co. on Wikipedia