BTIG expects snap-back as S&P 500 hits a new 52-week high

Wall street sign in New York City with New York Stock Exchange background.


BTIG repeated its view on Friday that the S&P 500 (SP500) is overextended to the topside, as the benchmark index pushes to a new 52-week trading high on Friday morning.

The S&P 500 currently trades near the 4,425 level, an area