Fundstrat head of research Tom Lee says the market is primed for a face-ripping rally into month end. He named four specific ingredients behind the call.
Lee, a CNBC contributor, joined Freedom Capital Markets’ Jay Woods as major indexes rebounded from last week’s selloff. Both agreed technology stocks are leading the bounce, though they disagreed on how far it can run.
Four Ingredients Behind the Rally Call
Right before his “face ripper” comment, Lee pointed to four specific factors.
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Oil prices cooling over the weekend
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Treasury yields easing in step with oil
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A hawkish Fed that could still soften its stance
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Oversold conditions across the broader market
Those four conditions, Lee said, add up to a rally with real momentum.
