S&P Closes Week at All-Time High, Correction Now Unlikely

The S&P 500 closed last Friday at 3,714.24 and closed at 3,886.83 this afternoon. That’s a 4.6% gain. Wow, what a difference a week and the biggest institutional de-leveraging event since March 2020 can make. The S&P 500 put/call ratio got to its highest point since the panicked selling early in the pandemic; it was only about 5% below this one year high, but then it subsequently collapsed quickly.

The current level of nearly 30% off the highs does not support the conclusion that m...

Finish reading this report for free

Enter your email and we’ll send the paywall-free link directly to your inbox

In addition to your unlocked report, you will receive our weekly market newsletter FSI Snapshot, as well as occasional updates and offers from FS Insight. You can unsubscribe at any time. For more information, see our privacy policy.

Get unlimited access to Tom Lee’s Fundstrat research Subscribe
Already a member? Log in
Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In

Events

Trending tickers in our research

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In