Rosenberg: S&P 500 Rally Masks Bearish Signals of Overvaluation and Weak Technicals
-
Famed economist Rosenberg believes the S&P 500 is in a bubble despite the rally, citing extreme bearish signals from his valuation model
-
He points to 3 technical indicators showing weakness beneath the surface Transports lagging the Dow, stocks outperforming bonds, tech leadership fading
-
Rosenberg believes fundamentals always prevail over momentum, and current overvaluations predict poor long-term returns
-
Other bears also warning about high concentrations, valuations, and little room for disappointment amid high expectations
-
Since October, the S&P 500 has surged 42%, defying many bearish calls, but Rosenberg believes downside still likely eventually