S&P 500 at 7000 is a valuation test, not a liquidity problem

https://www.fxstreet.com/news/sp-500-at-7000-is-a-valuation-test-not-a-liquidity-problem-202602102352
The rebound from last week’s drawdown never quite shook the sense that it was being supported by borrowed conviction. The S&P 500 once again tested near the 7000 level (6986 as the high watermark) and failed, despite a macro backdrop that would normally be interpreted as supportive of risk…