Fundstrat’s Tom Lee Says Stock Market Sitting at Bullish Support Levels With ‘Trump Trade’ Still Intact

Fundstrat managing accomplice Tom Lee nonetheless thinks markets have room to run after explosive beneficial properties following Donald Trump’s victory within the US presidential election earlier this month.

Lee, who can also be head of analysis at Fundstrat, says in a brand new one interview instructed CNBC that he thinks the “Trump commerce remains to be intact,” even because the inventory market has retreated in current days.

“I believe most main indices have retreated to what would technically be thought-about assist by our technician Mark Newton. So the NASDAQ is on the assist line. S&P rebounded 60% from its current rally and small caps remained above their earlier highs. These are all bullish assist ranges.”

Fundstrat’s managing accomplice speculates that markets are at the moment correcting on account of Trump’s upcoming Division of Authorities Effectivity (DOGE), a proposed presidential advisory fee that can concentrate on slicing paperwork and spending within the public sector.

The DOGE, an acronymous reference to the favored meme asset Dogecoin (DOGE), will likely be led by billionaire Tesla CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy.

Lee says the committee may make cuts in sectors reminiscent of well being care, manufacturing and protection.

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