It’s Impossible to Call the Top in Stocks, Goldman’s Rubner Says
- The return of the YOLO has been a major driver in recent gains
- Says there is no catalyst for potential selloff in US stocks
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It has proved impossible to call the peak in this euphoric US stock market, says Goldman Sachs Group Inc.’s tactical specialist Scott Rubner.
Retail traders have been lured into this rally just as a Goldilocks scenario — where the economy is running neither too hot nor too cold — has been playing out, prompting analysts quickly to upgrade their year-end targets, Rubner wrote in a note to clients on Wednesday. March is now a “fuller house” and the rally is “tired,” however there is no catalyst for a potential selloff, he said.