Stocks can go higher because you are only looking at one market. When you take the entire world into consideration the picture changes considerably. The real question you should be asking is not "how high can stocks go?" but "How high can bond prices go?"
How can sovereign debt continue to be well-bid from countries on the verge of default and a banking crisis? And if that imbalance in prices gets any bigger what happens when smart investors look to park billions of dollars?
Suddenly AAPL doesn't look expensive. It's all about relative value in the end. And we are at the very beginning of a great rotation out of sovereign debt and into stocks (and gold and silver and cryptos).
Thanks for the insightful post. I am learning a lot here in Steemland. I am ready for "this" rotation into silver for sure. cheers.