By: Jeffrey Buchbinder, CFA, Chief Equity Strategist, LPL Financial & Adam Turnquist, CMT, Chief Technical Strategist, LPL Financial

Stocks have had a nice run, but at higher prices, the bar for further gains gets higher. We have recently made the case in this publication that there are a lot of reasons to expect the market to go higher between now and year end. But with stocks at higher valuations, high-quality bonds offering attractive yields, an S&P 500 Index with concentrated leadership facing technical resistance at 4,300, and an elevated risk of a late-2023 recession, we think it makes sense to be a bit careful here. Importantly, though, neutral is not bearish.

Read the full commentary here: weekly-market-commentary-06.05.2023