Wall Street Rally Gains Momentum Amid Skepticism
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Fundstrat’s Tom Lee argues the current U.S. equity rally faces unwarranted skepticism despite the S&P 500’s 17% rebound from recent lows. Market participants remain unconvinced of its sustainability, a pattern Lee compares to post-pandemic 2020 and October 2022 recoveries where bearish sentiment persisted through early gains.
"This ranks among the most hated rallies in memory," Lee observed, attributing the doubt to lingering trauma from past market shocks. Historical precedent suggests investors typically embrace bullish trends only after new highs are established—a psychological barrier currently restraining market optimism.
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