Tom Lee's latest macro outlook has sparked widespread discussion. He points out that by early 2026, the broad rally in stocks, precious metals, and cryptocurrencies will indicate strong market breadth. This year's market may follow a "joy—disappointment—rally again" rhythm, with a possible 15%–20% correction midway that might be mistaken for a bear market, but this is not the end of the cycle, rather a key buying opportunity. He remains optimistic about the overall performance by the end of the year, expecting the S&P 500 to potentially hit 7,700 points.