“2026 will be a year of 'joy, depression, and rally': a possible 15–20% correction in the latter half of the year as the market tests the new Fed chair, before the S&P 500 still finishes 2026 at 7,700.”

As of late September 2026 the S&P 500 was near 7,230; Lee repeated the summer-correction warning in May 2026, and neither the 15–20% drawdown nor the 7,700 year-end level has yet resolved.