$SPX yearly chart. I'm bullish on the stock market.

I believe we are still in the middle of a very strong bull run. People are still too defensive, showing no sign of extreme greed yet. Overvaluation is not a good reason for a crash. We would need a disaster like the pandemic, or scam/fraud financial products like derivative mortgage securities to cause a good enough crash. Any drawdown caused by overvaluation is just a taking-profit pullback.

There's no significant enough scam going on in the stock market. Overvalued companies have real product and real profit. I remain an ultra bull and projecting our near target to be 5k. If by then people are still screaming crash crash crash I think we will reach 10k. Market will top when the most stubborn bear turns bullish.

See you there at 5k!