Will All the Real Buy The Dip Believers Please Stand Up? Array ( [cookie] => 9aba2b-636bb0-a31523-da7c02-6979b1 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 1 [subscriber] => 0 [role] => fsi_macro [visitor_id] => 567895 [reason] => [method] => ) 1

“How much or how little money changes hands doesn’t make it philanthropy. Intention and effort make it philanthropy. If we acknowledge what it all has in common, there will be more of it.” — MacKenzie Scott

Good evening, 

The exuberant stock-market rally that has sent major indexes to records in recent weeks and months came under pressure this week.

Worries about rates staying "higher for longer" dragged down markets, but Fundstrat Head of Research Tom Lee believes the declines mark what he calls a "buy the dip moment," because in his view, the long-term fundamental trends are still intact. 

From a technical perspective, it wasn’t a great week for market breadth. Head of Technical Strategy Mark Newton pointed out that the percentage of stocks moving above their 20-day, 50-day and 200-day moving averages tumbled even more. But he still expects markets to bounce back next week. 

“This is all in the context of a larger bull market, so this is just a corrective-type pattern,” Newton said. “I don’t sense that it’s right to make too much of this, but it is something that is ongoing.”