Wall Street technical analysts warn: US stocks may pull back by 7% in the coming weeks
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Fundstrat's technical analyst Mark Newton warned that the US stock market may experience a 7% pullback in the coming weeks. He pointed out that the S&P 500 Index may weaken in November due to investors' excessive optimism. Despite the bullish mid-term outlook, Newton believes that there are doubts about the continued rise in the stock market, with 5900 points being seen as a potential resistance level. He mentioned that market complacency, breadth weakening, and seasonal factors are all warnings of possible trend changes in the coming weeks
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