Tom Lee

The S&P 500's low of the September 2020 pullback will come before the November 3, 2020 US election, not after it.

“But as scary as this period is going to be, and I think stocks might be vulnerable, I think it's very likely stocks will make their lows before election day,”

Said on

21 September 2020 · Interview on CNBC's "Halftime Report"; he kept a 3,525 year-end S&P 500 target

Source

Fundstrat's Tom Lee says stocks are in a 'dangerous' spot but long-term investors should sit tight · CNBC

Should come true

3 Nov 2020

How sure they sounded

I think it's very likely

Categories

MarketsElections

Importance

2 of 5 · A short-term call on the US stock market's bottom; it matters mainly to equity investors.

Outcome

Accurate Happened 23 September 2020.

The S&P 500 bottomed two days after he spoke, closing about 9.6% below its September 2 record on September 23, 2020. It did not close lower before or after the November 3 election, and it went on to new records in November.

Evidence:

• https://www.fool.com/investing/2020/09/23/september-selloff-sp-500-craters-78-points-approac/
• https://www.axios.com/2020/09/25/sp-500-correction-stock-market
• https://finance.yahoo.com/quote/%5EGSPC/history/