Tom Lee told you to sell at the end of July and buy back SPX 2100. That didn't work did it? Nevertheless, CNBC is eager to have one of the most highly paid strategists back as a guest and didn't give him a hard time, just saying "you've been bullish." That is kind of true, as he didn't call for a big top like Gundlach, but still, they let him off easy.

Now he is saying buy USA small caps, which means the Russell. I say no way! IWM (ETF for the Russell 2000) just tagged its 2HR1 level, and YR1 is just above. This is terrible from a risk reward perspective. If you wanted to buy in here, then it was 7/4 and 7/11 weeks with the 2nd launch above the YP. Definitely not up here at significant resistance, especially with the weekly chart showing highest RSI in nearly 2.5 years! Basically, his buy signal is nearly 2 months and about 5% late.

Long term pivots on the weekly chart (look at RSI) below.