Text: 'NAME_1 strategist says US stocks in 2019-like rally. US EQUITIES are tracking the same path they did in 2019, which was one of the best years for the S&P 500 over the past decade as it handed investors a 29 per cent return, according to NAME_1’s staunch bear, NAME_2. “The data we have today suggests to us that we are in a policy-driven, late-cycle rally,” NAME_3 wrote in a note. The latest example of such a period occurred in 2019 when the Federal Reserve paused and then cut rates, and its balance sheet expanded toward the end of the year. “These developments fostered a robust rally in equities that was driven almost exclusively by multiples and not earnings, as has been the case this year,” NAME_3 said.' What is the sentiment towards NAME_1 in this text? In your response, capitalize a few words to stress main points. Please limit the number of words with all capital letters to less than 18.
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