"It's going to be interesting to see how this plays out. It's unbelievable that the Fed has been able to pull this off," she said. "I applaud them because it hasn't collapsed yet, but I'll be shocked if there's not some severe market action to the downside, very similar to 2000 and 2007."
While the round number are often dismissed, they can prove formidable barriers.
The S&P 500 struggled for three months in 2012 to clear 1,400, but once it did the average zoomed higher. The Dow industrials waged a similar battle with 13,000, and the Nasdaq tech gauge also used a late-year break of 3,000 to climb.
"If it was the first time we were hitting the big, round number it could represent resistance. We've already been through there a couple times," said Mark Arbeter, chief technical strategist at S&P Capital IQ. "The completion of some chart formations suggests we could have measured moves back up towards the all-time highs in the first quarter."
The market's stubborn march higher despite the array of factors against it - weak earnings, political tensions in Washington and a European recession to name three - have market bears feeling fairly helpless.
"This is a very frustrating market," said Kathy Boyle, president of Chapin Hill Advisors. "It's times like this when I feel like throwing in the towel. That's when I feel like I should stick to my guns."