Technical analysis from JPMorgan suggests that S&P 500 is not even close to a bubble

“The index would have to meet or exceed 3,700 in the second half of the year for the 12-month growth rate pattern to line up.

The 2017-2019 S&P 500 growth rate arguably matches the performance leading up to prior bubble formations. However, the most important phase and yearlong period of elevated performance still needs to develop before we would classify price action as a bubble.”

 Trader Aleksandar Kumanov

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