David Rosenberg says S&P fair value is in the mid-700s and looks for the 1,040 support line...

|By:, SA News Editor

David Rosenberg says S&P fair value is in the mid-700s and looks for the 1,040 support line to break soon. "This bear market rally ended in April (confirmed by three failed tests of the 200-day), and amazingly, those who see it that way are still in a minority... [institutional] cash levels are still very low at 3.8% and susceptible to stepped-up outflows."