It's hard to imagine much more upside for the current stock market, according to Bank of America.
"The S & P 500 is statistically expensive on almost every metric," Savita Subramanian, the firm's equity and quant strategist, wrote Friday.
.SPX YTD mountain S & P 500 "Overall, we see limited near-term upside to the cap-weighted S & P 500 and prefer the equal-weighted index, but our bear market signposts — the triggers that typically precede an S & P 500 peak — are not signaling elevated risks of an imminent bear market," she wrote.
The strategist updated her S & P 500 year-end target to 6,000.
The S & P 500 was last trading around 5,880.
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