Don’t get discouraged by some seasonal pullbacks in the market after a strong start to 2024, according to Tom Lee, head of research at Fundstrat Global Advisors “There’s going to be a moment where investors have to get cautious, but this its a maturing rally,” he said Wednesday on CNBC’s ” Squawk Box .” Lee anticipates a positive setup for markets over the next 12 months, but views some signs of market fatigue in the near term after rallying for the better part of the last 16 weeks. Some investors have turned slightly cautious in recent sessions following hotter-than-expected reports on consumer and producer prices in January. However, Lee views the print as a reflection of “difficult seasonals” as companies lift prices in January, and expects the narrative to reverse course in February. Given this setup, Lee is urging investors sitting on cash to consider slowly dip their toes into the market during periods of weakness and remain “patient.” “Patient money is really the money that’s been working the last few years,” he said.
This story originally appeared on CNBC
