Markets Keep Climbing, Lee’s Base Case Remains Unchanged

Fundstrat Direct Team

“The only cats worth anything are the cats that take chances.” ~ Thelonious Monk

Good evening,

For Head of Research Tom Lee and his team, the markets, year-to-date, are behaving essentially as he forecast back in December. Lee noted in mid-December that there was not a single instance where the S&P 500 fell 20% and got within 1% of an all-time high without subsequently making a new high in 20 days or sooner. This helped drive his call for “new highs in January,” which we saw l...

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