Currently SP500 is well priced for a sanguine envirnonment (like it was in 2007) but not yet in a bubble.
From a dynamic point of view I see the market in a range 1800/2300 until March 2016 but after a touch around 1800, SPX could enjoy a large rally to 3000 in 2018.
That would bring SPX to bubble terrirtories and would make it subject to corrections like 1929, 1987 or 2000.
In 2007, the market could have gone much higher if it has not been for the specific defaults in the real estate space.
From a dynamic point of view I see the market in a range 1800/2300 until March 2016 but after a touch around 1800, SPX could enjoy a large rally to 3000 in 2018.
That would bring SPX to bubble terrirtories and would make it subject to corrections like 1929, 1987 or 2000.
In 2007, the market could have gone much higher if it has not been for the specific defaults in the real estate space.
