Tom Lee: Market in Selloff, Tech Stocks Near Support

Lee's read hinges on a sentiment argument rather than a fundamental one: pessimism as a contrarian signal, backed by a technical view that support has been reached. That matters because it frames the current drawdown as a positioning problem rather than a deterioration in the underlying assets — a distinction that cuts across both equities and the crypto-linked names that trade alongside tech. The tell is whether defensive leadership keeps widening while tech tests support, or whether that rotation stalls. Whether the support call holds is the open question, and sentiment alone rarely confirms it.