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The August sell-off in stocks is the perfect buy-the-dip opportunity, Fundstrat said.
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Markets will remained jittery over rising interest rates through the end of the month.
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The Fed’s Jackson Hole Symposium could jolt stocks back on their bullish path.
The August market rout means investors are nearing the perfect opportunity to buy the dip in stocks before they resume their rally, according to Fundstrat’s head of research Tom Lee.
Lee, who has predicted the benchmark index will notch a record high in 2023 at 4,825, warned that more near-term downside was likely in store for stocks.
Already, the S&P 500 has fallen about 5% since the start of August. That sell-off was influenced by China’s weakening economy, as well as stronger-than-expected economic growth in the US fueling a rise in bond yields. The Atlanta Fed is now estimating GDP to grow 5.8% in the third…
