Despite the S&P 500 closing at an all-time high on Friday, the index's internals and fundamentals are too weak to maintain the rally, Morgan Stanley said Monday.
on Friday, the index's internals and fundamentals are too weak to maintain the rally, the firm said.
In the last 18-months, the S&P 500 has peaked close to or just above the 3,000 range three times. The last two times were followed by a market correction and this time is no different, according to Wilson. While The Federal Reserveby 25 basis points on Wednesday, the boost from the easing will not sustain the breakout that many investors are expecting, Wilson said.
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