Morgan Stanley's Mike Wilson: The Market Correction Is Ending But The Final Phase Could Be Painful

By Michael Wilson of Morgan Stanley

We enter the week with markets that still feel fragile to most investors but are likely further along in the discounting process than many appreciate. In fact, as discussed in our Weekly Warm-Up last Monday, the S&P 500 was in the process of carving out a low after hitting the low end of our targeted range of 6300-6500 for this correction.