Markets may be approaching a key turning point, according to Fundstrat‘s Tom Lee, who believes the current conditions could set the stage for a tradable and possibly real bottom.
What Happened: Speaking in an interview with CNBC on Monday, the veteran strategist pointed to a confluence of oversold indicators, investor de-risking, and anticipated policy clarity later in the week.
“I think it’s possible that instead of us breaking down here and seeing markets under further pressure, we’ve actually got the right pieces for a bottom,” said Lee, Fundstrat’s Head of Research and Chief Investment Officer.
His remarks come as the S&P 500 flirts with correction territory, down nearly 10% from recent highs.
Lee noted that despite bearish sentiment over the weekend and pressure on futures, investors have already undergone significant de-risking. …
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