Market surge off low is getting tapped out, Bryn Mawr's Jeff Mills warns

According to Bryn Mawr Trust's Jeffrey Mills, there's not enough juice left to drive another surge despite the Federal Reserve's aggressive actions to keep the financial markets functioning.

"The liquidity injection that the Fed is introducing to the market is actually being tapered off," the firm's chief investment officer told CNBC's "Without another burst of Fed stimulus, Mills is concerned the recent rally is on borrowed time. "The stock market has already discounted a significant degree of the economic recovery. So, incrementally improving data here might not do much to lift prices," he said. "The risk reward isn't great here."performance and earnings per share estimates as evidence of a growing disconnect between the market and economy.Mills warns it's an ominous signal for the market.

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