One of the market’s biggest skeptics is going back to his old ways.
Morgan Stanley strategist Mike Wilson cautioned that the rally that has enveloped markets in recent weeks is long in the tooth and overdue for a breather.
“As predicted, falling interest rates at the back end have led to modest, further gains for this bear market rally,” Wilson wrote in a new note on Monday. “However, with last week’s price action, the S&P 500 is now right into our original tactical target range of 4000-4150….
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