UBS Trade Desk Says Target Hit, "Take Profit/Sell"

Is it time for investors to take profit / sell? With the S&P 500 having “reached its most overbought position since 2009,” UBS sales trade desk technical analysts Michael Riesner and Marc Muller are sticking with their initial market projection. The headline of the March 22 analysis tells the story: “SPX Reaching 2050 Target … Take Profit / Sell!” The Riesner and Muller analysis comes as algo triggers noted by JPMorgan’s Marko Kolanovic approach ever closer. Take profit / sell: After predicting stock, commodity rally, the value opportunity has now passed Last week, Riesner and Muller said the stock market…