This commentary was issued recently by money managers, research firms, and market newsletter writers and has been edited by Barron’s.
Don’t Fight the Rally
Market Commentary/Strategy
Stifel
March 3: The bearish chorus of Wall Street strategists continues to fight the
S&P 500
rally since the intraday low (3,491.58) on Oct. 13, 2022, with those strategists flip-flopping from calling an imminent recession (caused by the Fed) to no recession (so, the Fed must cause one). Some say it is a “bull trap” but that misses major trades in a range-bound, decadelong channel. They can call it a bear-market rally, a bear trap, or call it a banana.
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