‘All the pieces are in place for this bull market to end’: A technical strategist who called the S&P 500’s surge to 6,000 warns that stocks are a negative catalyst away from a 20% drop
By William Edwards, Business Insider
Back in February, Tyler Richey laid out an argument for why the S&P 500 could climb all the way to 6,000. Investor sentiment was bullish but not excessively so. The Dow Jones Transportation Index had surged into the green for the year alongside the S&P 500, a sign that the economy was in a good place. And the S&P 500’s relative-strength index had been above 70 for three weeks, which historically meant a rally could go on for much longer.
