UBS: It Feels Like Quite A Paradox Now In US Stock Markets

Some quick observations from UBS trader David Rigney

It feels like quite a paradox now in US equities:

1. All-time highs in the market
2. S&P now trading at 23x NTM; RSI at 70
   
   
3. Fed funds implying 74bp of cuts over the next two meetings (November 7 and December 18).