Market Rally Cools Off, But Cycles Point to Positive First Half

FS Insight Team

Good evening:

"Markets trend only about 15% of the time; the rest of the time they move sideways" - Paul Tudor Jones

In recent weeks, Tom Lee has noted that many clients are puzzled by the scorching market rally to kick off 2023. As inflation continues to fall, the Nasdaq posted its best start in 31 years. Rarely have markets been this resilient. Rarely has there been this much cash still on the sidelines. 

“People might say, ‘Well, earnings still need to fall,’” Lee said ...

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