Fundstrat’s Tom Lee Says Stock Market Sitting at Bullish Support Levels With ‘Trump Trade’ Still Intact
Fundstrat managing partner Tom Lee still thinks the markets have room to run following explosive gains after Donald Trump’s US presidential election victory earlier this month.
Lee, who also serves as Fundstrat’s head of research, says in a new interview with CNBC that he thinks the “Trump trade is still intact” even though the stock market has pulled back in recent days.
“I think most of the major indices have pulled back to what would be technically viewed by our technician Mark Newton as support. So the NASDAQ is on the support line. SP did a 60% retrace of its recent rally and small-caps have held above their prior highs. These are all bullish support levels.”
The Fundstrat managing partner speculates that markets could currently be correcting due to Trump’s upcoming Department of Government Efficiency (DOGE), a proposed presidential advisory commission that will focus on slashing bureaucracy and public sector spending.
The DOGE, an acronymic reference to the popular meme asset Dogecoin ( DOGE ), is set to be headed up by billionaire Tesla chief executive Elon Musk and former Republican presidential candidate Vivek Ramaswamy.
Lee says the commission could enact cuts to sectors like healthcare, industrials and defense.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Can the 40 billion bitcoin taken away by Qian Zhimin be returned to China?
Our core demand is very clear—to return the assets to their rightful owners, that is, to return them to the Chinese victims.

Bitcoin Surges but Stumbles: Will Crypto Market Recover?
In Brief Bitcoin fails to maintain its position above $93,000 and faces heavy selling pressure. Altcoins experience sharp declines, with some showing mixed performance trends. Shifts in U.S. spot Bitcoin ETF flows highlight cautious investor behavior.

Qubic and Solana: A Technical Breakthrough by Studio Avicenne

