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Market bulls and bears having trouble as ‘unlimited’ Fed support short circuits models

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A bear statue stands outside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany, on Friday, March 13, 2020.

Alex Kraus | Bloomberg | Getty Images

Throw in the towel on a market pullback?

It’s getting lonely being a market bear. Investors — even market bulls — who are trying to figure out what will break the market’s momentum are just about at a loss for arguments.

Just ask Canaccord chief strategist Tony Dwyer, who said he was withdrawing his S&P 500 target because there is no precedent to how high valuations can go with low rates and essentially unlimited quantitative easing.

He’s not alone. John Stoltzfus from Oppenheimer has also withdrawn his price…



Source cnbc.com

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