Morgan Stanley warns of false breakout in S&P 500 rally.
Originally Published 2 years ago — by Investing.com
Morgan Stanley equity strategists believe that the ongoing rally in the S&P 500 is a head fake and that the market is overvalued. They presented technical and fundamental evidence to support their argument that the S&P 500 will fail to break out of the 2023 range between 3800 and 4200. They also noted signs of panic buying and argued that this rally will prove to be a false breakout, similar to last summer's.