Impact of Quantitative Easing - US vs Europe

I found interesting to compare the impact of Quantitative Easing / Operation Twist / Bailout / EFSF / SMP / Mario Draghi's Bazooka on the Equity Markets, in US and Europe on a timeline. 

In the US, the market is very responsive to QE. As a consequence, the S&P Index is back to April 08 level. In Europe, well ... I am still trying to find a pattern. It looks like a mess to me. Good news is bad news, but sometimes not, while bad news is bad news but sometimes good. And vice-versa... Something like that.

History of World GDP

So China and India are not 'Emerging Powers'. They are just returning to power