Still expecting an October pullback on $SPY, but now thinking it kicks off from a higher level. We're inches from new all-time highs, and historically when the index punches through ATHs, it tends to run a bit further—just look at the last two breakouts.

Maybe Tom Lee's got it right this time. Rally could stretch to 7,900, maybe even 8,000 on the S&P500, then we get the mini-drip into the next FOMC meeting.

So the setup: let it rip higher first, then watch for the fade. Don't fight the breakout, but be ready to flip when momentum shifts.