As S&P 500 Tests New Record, Evercore's Ross Raises the Bar
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With a five-week rally pushing U.S. stocks to within a whisker of the record high in January, Evercore ISI’s already-bullish technical analyst is turning even more optimistic.
“The S&P 500 is in a vastly superior technical position to January,” Rich Ross, the firm’s New York-based head of technical analysis, wrote in a research note. He raised his short-term target for the gauge to 2,975 from 2,900. It closed Tuesday at about 2,858, having bounced back more than 10 percent from the low in February.