“December will be strong for markets, with the S&P 500 potentially reaching 7,200–7,300 by year-end — a possible 10% gain from current levels.”

The S&P 500 finished 2025 at 6,845.50, roughly 5–7% below the 7,200–7,300 range; December was essentially flat (-0.05% for the month) rather than a 10% melt-up.