Stock market outlook: Sell stocks and take profits as rally set to fizzle

Marko Kolanovic say that it's time to sell stocks and take profits, as the latest rally in markets is set to fizzle through this quarter.

"We remain cautious on risk assets and are reluctant to chase the past weeks' rally as recession and overtightening risks remain high, and we believe that a lot of good news is already in the price in terms of inflation moderation or the potential for a soft landing," Kolanovic said., the ongoing tightness in labor markets could pose a double whammy that could hurt corporate profit margins and drive the Fed to be keep tightenin monetary policy, according to the note.

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