The stock market may feel stretched after its 30% rally, but these 3 indicators say it’s not

• The S&P 500 appears stretched after its 30% rally, and some investors are calling for a correction.
• But according to Fundstrat’s Tom Lee, there are still bullish fundamental catalysts on the horizon.
• These are the three indicators he highlighted that suggest the stock market isn’t as stretched as some may think.

The S&P 500 has surged 30% since its mid-October low, and now some investors are calling for a correction as the rally appears stretched.

While Fundstrat’s Tom Lee acknowledged that a typical 5% pullback is possible, he argued in a Friday note that any such decline would be a buyable dip and that the stock market isn’t as stretched as some think.