Part 2/8:
Lee noted a curious disconnect between the ongoing performance of the S&P 500 and the confidence levels among investors. Despite a positive market trajectory this week, portfolio managers expressed concerns about potential tariff risks that are preventing a shift toward a more bullish stance. Many portfolio managers are holding onto a significant amount of cash, indicating apprehension about further market fluctuations. Lee suggested that this cautious sentiment could set the stage for a substantial rally, as short interest rises and liquidity from sidelined investors begins to flow back into the market.