Food for thought for permabears (a group I belong to at heart):

5,000 ÷ 30x = $167

By this time next year, if not sooner, the market will be pricing in '22 earnings and $TNX will be ~0. Consensus for '22 = $186, which is 10% above $167.

Ergo, $SPX 5,000 could be CONSERVATIVE. https://t.co/oX3NwY4PGy