Evercore ISI Warns of 'Weak and Vulnerable' S&P 500

The video discusses the current state of the market, highlighting the caution advised by Evercore strategists due to weak S&P 500 performance and negative trends in crude, credit, tech, and trade. It analyzes the market's transition from a strong trending phase in 2017 to a volatile, non-trending phase, with defensive market internals. The 2019 outlook suggests low forward returns, with trade issues and Fed policies impacting growth. A potential trade ceasefire could lead to a year-end rally, but the market's technical underpinnings remain weak.

What are the implications of the Fed's actions on demand growth as discussed in the text?

What does the text suggest about the market's technical underpinnings as the year-end approaches?