Stock rally getting harder to chase - Goldman

Goldman Sachs strategist Tony Pasquariello says the S&P 500’s primary uptrend remains intact but near-term conditions have become more challenging. He points to a relative strength index (RSI) around 70 and argues the most intense speculative buying is likely behind the market, implying a higher probability of consolidation or choppier, harder-to-chase rallies. The commentary suggests investors should be more cautious on new entries and expect elevated volatility even as the broader bullish trend persists.