Tom Lee, an experienced investor, believes that the worst of the recent market correction has passed. In an interview with CNBC, the founder of Fundstrat points to the volatility index (VIX) as an indicator of expected market volatility.
Lee notes that the VIX levels suggest that prices are not likely to significantly drop further. He explains, “The VIX spiked to 60 on Monday, which was the third-highest reading ever. However, it has started to normalize, indicating that the panic may be subsiding.”
Despite acknowledging potential ripple effects and lingering concerns, such as the yen carry trade and geopolitical tensions, Lee remains optimistic. He mentions that improving weekly jobless claims could signal a recovery in the markets.
Looking ahead, Lee describes the current market dip as a “growth scare,” with investors closely monitoring weekly jobless claims for signs of economic health. He emphasizes the importance of these indicators in shaping market sentiment.
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