JPMorgan executive director Adam Crisafulli has high hopes for the stock market, but only if the powers-that-be make the necessary moves.

“ “The ‘shock and awe’ upside scenario involves rescinding all U.S.-China tariffs instantly, causing certain tariff-sensitive firms to raise 2019 guidance, while the Fed commits to keeping reserves at ~$1.3T+. If all this were to come to pass, then the SPX will easily make a run towards 3K.” ”

For Crisafulli’s bullish outlook to play out, the S&P 500 index SPX, +1.05% would need to tack on more than 200 points, or about 7%, from its current level, according to his note to clients cited on CNBC on Wednesday.