Fundstrat Global Advisors co-founder Tom Lee said in a 4 Aug. appearance on CNBC that he expects the S&P 500 to rally “pretty strongly” in August, reaching between 6,500 and 6,600—levels that would eclipse the benchmark’s prior record within weeks. Lee attributed his bullish view to moderating U.S. price pressures, noting that inflation excluding housing costs has already fallen below 2%. He argued that if the Federal Reserve followed a policy framework similar to the European Central Bank’s, it would already be cutting interest rates, a step he believes would further support equities. Looking beyond the near term, the strategist projected the S&P 500 could climb above 7,000 over the next 12 months, a call that counters the index’s typical seasonal weakness in August.
Sources
Coin Bureau
🚨ALTCOIN SEASON LOADING? The Altcoin Season Index jumped to 51 — signaling a potential shift away from #Bitcoin dominance. 🔺 Alts are waking up… Will it continue to rise? 👀 https://t.co/KEXEzZyvYv
Small Cap Scientist 👨🔬🧪🥼 The $BTC.D chart I’ve been posting for months has $BTC dominance peaking around 71%. I’d be pretty surprised if we don’t tap those highs eventually… but it’ll take months or a year+ to play out. If you’re looking for a big alt season, then mark that level to take positions. https://t.co/ncPlJLifIh
Bankless “You can’t really have alt season if ETH/BTC keeps going down… ETH is arguably the index for the altcoin market.” Ben Cowen ( @intocryptoverse ) explains why Ethereum’s strength relative to Bitcoin is the key alt season signal most people overlook. https://t.co/hbxdqz5a3S
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