Even though equity prices continue to increase, driven by sentiment at least as much as fundamentals, analysts continue to be bullish. A number of metrics that identify investor sentiment are high but “not yet extreme,” according to Morgan Stanley (NYSE:MS) analyst Ronan Carr, signaling that we could be reaching a peak. Carr cautions investors against putting too much new money into equities and identifies what could be the catalyst for a downward correction – falling liquidity. Sentiments suggest bullishness is elevated “A selection of technical metrics are trading at (or were quite recently at) very high levels versus the last…