"Warning Signs Point to Imminent Stock Market Correction, Top Economist Says"
TL;DR Summary
Fundstrat's Tom Lee predicts an imminent stock market correction after the S&P 500's 21% rally over 14 weeks, citing historical patterns and a potential 7% decline. He expects the index to reach around 5,000 before the drawdown, possibly driven by concerns over the Federal Reserve's interest rate decisions. Despite this short-term bearish outlook, Lee maintains a bullish view for 2024, projecting the S&P 500 to rise to a range of 5,200 to 5,400.
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