URL has been copied successfully!
Fundstrat Global Advisors head of research Tom Lee told Squawk Box Monday morning that the stock market is “very spring-loaded” for a recovery.
Lee had predicted March volatility followed by a bounce.
It didn’t play out that way.
The initial shock of the Iran conflict proved longer than expected, so stocks sold off and stayed down.
But Lee argued Monday that markets typically bottom in the first 10% of a war, and that the worst is likely behind.
‘Explosive’ Reaction If War Ends
The SPDR S&P 500 ETF Trust (NYSE:SPY) is at $657, around 6% off its January highs.
Lee said it wouldn’t take much to recover the gap, and that if the war ended unexpectedly, the market reaction would be “explosive.”
Polymarket traders currently price …
Please follow us:
This post was originally published here