The S & P 500 rallied 8% in one month. That's despite the banking turmoil, which fueled investor fears of a 2008-style financial crisis. But Morgan Stanley Investment Management's Andrew Slimmon isn't optimistic about the market. "Now that we have moved back yet again to the top end of this 3800-4200 range, with renewed banking issues in the headlines, I think the market is going to frustrate the bulls," he told CNBC. The S & P 500 closed at around 4,119 on Tuesday. "I do not see much upside in the market near-term," Slimmon, senior portfolio manager at the firm,…