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Tom Lee: S&P 500 to 2,835 by Dec 31, 2019

Tom Lee's prediction that S&P 500 would reach 2,835 by December 31, 2019 came true. S&P 500 closed at 2,855 on March 21, 2019, the first close at or above the target. Tom Lee made the call on CNBC on January 11, 2019, when S&P 500 was at 2,597. The target needed a 9.2% rise in one year.

Updated

What was said

Photo of Tom Lee
Tom Lee

Head of Research, Fundstrat Global Advisors; Chairman, Bitmine Immersion Technologies

CNBC, Jan 11, 2019SourceArchive

8 predictions · 2 hit · 4 missed · 2 open

Photo: Xuthoria, CC BY-SA 4.0

In his latest investor note released Friday morning, Lee predicted the S&P 500 would hit 2,835 by the end of the year.

Lee said buying the dip was back and that the probability of a double-digit year was the highest since 2009. He compared the 2018 decline to mid-bull-market pullbacks in 1962 and 1987, when the market found its footing at the 200-week moving average, which he put at about 2,350 on the S&P 500. He said a retest in 2019 would be viewed as a buying opportunity.

How we checked this

HitDeadline

Price when said
2,597 closeprice data
Target
2,835+9.2%
First close at target
2,855price data

The prediction comes true if any daily close from Jan 11, 2019 to Dec 31, 2019, inclusive, is at or above 2,835. Prices are daily closes, not intraday highs.

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