After Calling 2016 Stock Market, UBS Technical Analysts Think Stocks Overbought

UBS technical analysts Michael Riesner and Marc Muller, who called the bear market in early January and then the later stock market bounce in early February, think the stock market has come too far, too fast.

Riesner and Muller eye 2000 level on S&P 500

In early February the technical team called a near-term bottom in the stock market, noting that 1810 in the S&P 500 was likely to be a rallying point to drive stocks higher. Initial resistance was pegged at 1950 to 1960 with an eventual target of 2000 to perhaps 2050. The timing of this move into the 2000 region...