Using a derived 7 year forward NGDP level, Tobin Q used to consider R2000, suggests support is 1200 or lower (currently R2000 at 1430), and for SP500 support below 2000 (currently SP500 at 3050).  Risk premium rising quickly to 20 basis points. https://t.co/9LBQOEBUlW https://t.co/XI3p7uYAu9