Fundstrat looked at a chart that went down and decided it should go back up. This passes for analysis when you charge institutions seven figures a year.
The Magnificent 7 pulled back. Fundstrat called it bullish. If the stocks had ripped higher they would have called that bullish too. If the entire market collapsed into the f*cking ocean they would find a three-day moving average that crossed above a six-day moving average and declare victory for the bulls.
The thesis rests on "US equity trends remain bullish in the near term." What near term. Two weeks? Seventeen minutes? The length of time it takes a retail trader to blow up his account on 0DTE calls? They don't say because saying anything specific would require them to be wrong later.
Some guy in Wisconsin just saw this headline. He's now convinced the dip is over. He's liquidating his emergency fund to buy Tesla at $247 because a strategist with the word "Fund" in his company name told him trends look good. That strategist will still collect his fee when Wisconsin guy is explaining to his wife why they can't afford the mortgage anymore.
The Magnificent 7 went down 4%. Now it's a buying opportunity. If it goes down another 4% next week it will be an even better buying opportunity. If it goes down 40% it becomes a generational buying opportunity. There is no price at which Fundstrat would admit they were wrong because being wrong requires taking a position first.
Every dip is a buying opportunity until you run out of money to buy it with.
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