Daily Report : Wall Street has never been more confused; An overbought and volatile combination

Wall Street strategists have been slow to increase their year-end price targets for the S&P 500. Through the end of June, their current price target is tied for the lowest in 20 years. There is wide variability among the price targets, showing a lot of confusion. Overall, they're not giving the S&P much room to rally over the next 6 months, which has tended to be a good sign.; By the end of last week, the S&P 500 hit an overbought reading according to the popular stochastic technical indicator. This is unusual because volatility was still high, with the VIX above 30. The combination of a high stochastic and high VIX has preceded gains in stocks over the next 6-12 months.

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