Shares may collapse unless Yellen produces a miracle

The Fed has confirmed its position that it will begin to reduce its record $4 trillion balance sheet this year. This, however, did not bother particularly the stock markets, as the Dow blue chip index this week set a new record.
Are investors thinking that the Fed can withdraw liquidity from the market without affecting the companies? Obviously yes...
Otherwise, they would have to worry, not to buy shares "as the last one." Investor memory has proven not once and twice that it is short-lived and quickly forgets.
The traders apparently forgot what the asset redemption program is, which is the main reason for the Fed's record balance.
The question arises if the incentives triggered strong and parabolic growth for the indices, why not take the opposite - a reduction in the Fed's balance sheet could lead to a strong correction for US indices?