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BitMine Chairman Tom Lee and veteran trader Peter Brandt have pointed to a possible S&P 500 move toward 8,000 by year-end, even as traders watch Big Tech weakness, energy costs, and a possible autumn pullback.
Tom Lee Sees S&P 500 Above 8,000
Tom Lee said the S&P 500 could rise above 8,000 by the end of 2026 as the artificial intelligence trade remains active and earnings expectations improve.
He described a possible three-stage path in which the index moves toward 7,700, pulls back by 10% to 15%, and then rallies above 8,000 into year-end.
Lee’s forecast rests on stronger earnings and more reasonable valuations. He has tied the 8,000 target to 2027 earnings of about $400 per share, which would place the index near a 20 times forward earnings multiple. He also said the market’s price-to-earnings multiple has compressed since January, giving stocks room to rise if earnings continue to grow.
Peter Brandt Tracks Bullish Breakout Setup
Peter Brandt shared a daily S&P 500 E-mini futures chart showing an ascending triangle pattern. The index was trading near 7,608, just below resistance around 7,630, where a daily close above that level could confirm a bullish breakout.
The chart’s measured move points toward the 8,000 area if buyers keep control. However, the bullish structure depends on support near 7,450, where a rising trendline has helped keep momentum intact. A break below that zone could weaken the setup and shift focus toward 7,040, near the 200-day moving average around 7,010.
Source: X
Additional downside levels sit near 6,545 and the April swing low around 6,353. For now, Brandt’s chart keeps the bullish case alive while the S&P 500 holds above rising support and presses against resistance.
Wall Street Targets Align Around AI Growth
Several major firms now hold year-end targets near the same 8,000 milestone. Citigroup raised its S&P 500 target to 8,100, while Goldman Sachs lifted its forecast to 8,000. Morgan Stanley and Deutsche Bank have also aligned around the 8,000 level.
The common driver is earnings growth tied to artificial intelligence spending and resilient corporate profits. Big Tech and semiconductor stocks remain central to that outlook, although recent selling in some “Magnificent 7” names has caused short-term pressure.
S&P 500 futures edged lower as investors responded to a tech pullback and concerns around energy costs. Strong earnings reports from companies such as Abbott Laboratories helped offset part of the weakness, keeping attention on the broader earnings season.
Lee also commented on gold and silver after recent declines. He said long-term holders may be taking profits after strong gains, as both assets had moved beyond their store-of-value role and traded more like risk-on assets.
Autumn Pullback Remains Main Risk
Lee’s bullish forecast includes a warning about a possible correction between August and October. He said the pullback could feel like a bear market, even if the broader year-end trend remains positive.
The possible pressure points include the market testing the new Federal Reserve chair’s inflation stance, liquidity pressure from SpaceX share unlocks, and heavy IPO supply. Those factors could temporarily drain risk appetite before a possible year-end recovery.
Source: X
The current bull market remains historically strong. The S&P 500 has gained about 95% since the end of 2022, placing the run among the strongest cycles since 1928. Since the April 2025 low, the index has advanced about 51%, keeping momentum firm despite near-term volatility.
Coinbase CEO Brian Armstrong also linked the S&P 500 rally to the broader tokenized stock debate. He said many global investors remain unable to access American companies directly, while tokenized stocks could let users own exposure through a phone and internet connection.
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