Wilson predicts that the S&P 500 may fall to 2,450 or 2,500 in the coming weeks
There is more pain in the pain trade ahead.
That is according to Michael Wilson, Morgan Stanley’s chief U.S. equity strategist, who said, during an interview on CNBC midday Thursday, that a then-current market rebound belied a market that is badly damaged and ready to sink further.
Wilson describes current conditions as a “rolling bear market,” which began in February, and predicted that the S&P 500 index SPX, -1.73% could fall to between 2,450 and 2,500. That represents a roughly 8% to 10% drop from the broad-market benchmark’s current levels. “And we think we get there in four to eight weeks,” Wilson said….