Dana Cole

Sell Side Still Sees S&P 500 Up 20% by Year's End

I should probably resist the temptation to post a comment twice, but it fits this article better than the previous one.
To proceed upwards, we need a really good flush out on the downside. We are not getting it because diehard contrarian buyers are weakly holding prices up. If all today's sellers held back for a week or two, these would happen:

Buyers would be picking up stocks at truly "bargain" prices.

The huge crowd of people out there waiting for a "test of the January lows" would have already had it.

Levels of pessimism would match those that characterize bear market bottoms.

As it is, there's not much room for rallies, since so many folks are scared and trying to get out.