Ned Davis Research's Ed Clissold, who turned cautious on March 10, upgraded his six-to-12-month market view to neutral last week.Trading Nation
Clissold sees unprecedented fiscal and monetary policy serving as a backstop for stocks, and prevalent pessimism among investors, which is often a contrary indicator of strength, as encouraging signs. "There has been clear improvement in the tape action," added Clissold. "It tells you a lot of the worst news is behind you."has soared almost 28% since its March 23 low — despite a challenging earnings season and disappointing economic data.
TradingNation Was his name Rip Van Winkle?
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