Strategists Under the Same Roof Clash on S&P 500 Before CPI Data
- Evercore’s forecasters disagree on whether market has bottomed
- It’s latest example of a baffling market amid Fed tightening
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The $5 trillion rally in US stocks: a new bull cycle, or yet another mirage? Evidence is so divergent that even professional forecasters at the same firm can’t agree. Stakes are sky high with the most-scrutinized economic report in the world about to land.
At Evercore ISI, the head of technical analysis, Rich Ross, just pronounced the 2022 bear market is over, citing everything from chart patterns to peak inflation and investor sentiment. The next 500 points on the S&P 500 will be higher, he says.