S&P 500 Is Riding ‘Perfect Wave’ to New Highs, Evercore Says
A pedestrian uses a mobile device to take photographs of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
As U.S. stocks plow toward the end of summer at record highs, Evercore ISI’s top chartist sees the good times continuing to roll.
“The search for the perfect wave begins with the S&P 500,” Rich Ross, the firm’s New York-based head of technical analysis, wrote in a research note in which he raised his short-term target for the index to 3,015 from 2,975. The move came less than a month after his last increase.