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Wharton professor: Dow 20K coming soon

Statues of a bull and a bear outside the Frankfurt Stock Exchange
Ralph Orlowski | Bloomberg | Getty Images
Statues of a bull and a bear outside the Frankfurt Stock Exchange

As the markets continue to push higher, the big question for investors remains, is the rally sustainable?

On CNBC's "Power Lunch", Professor Jeremy Siegel of University of Pennsylvania's Wharton School said "We could see 19 thousand or even 20 thousand on the Dow by the end of the year."

Dow, S&P close at 2016 highs; tech lags

Siegel added that we need to see good earnings guidance to power to new highs, but there are a lot of positive signs right now. Not only have commodity prices stabilized, but despite some concerns in the market he sees no hard landing or devaluation in China.

On the flip side, Jack Ablin, Executive Vice President and Chief Investment Officer of BMO Private Bank thinks the U.S. markets are overvalued.

Ablin said, "The refrain we hear is, "where else are you going to put the money?" That doesn't sound like the ingredients of a bull market."