Fundstrat's Tom Lee Calls the Bottom in Stocks and Sees ‘Violent’ Rally
- He says U.S. equities may rally 10 percent or more by year-end
- Signals from technical analysis point to potential bounce
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“The bottom is here,” according to Fundstrat Global Advisors Tom Lee.
Investors should buy aggressively after the recent sell-off as U.S. stocks will rally at least 10 percent by the end of the year, Lee, the head of research at the firm, wrote in a note Wednesday. His declaration comes a week after he urged investors to buy the dip; the S&P 500 Index has gained 2.7 percent since that day, and Lee maintains a year-end price target of 3,025 on the gauge.