Small-caps are breaking out and will rally 40% as the S&P 500 sputters, Fundstrat's Tom Lee says
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- The Russell 2000 could rally 40% amid a shift in Fed policy, Fundstrat's Tom Lee told CNBC.
- The rotation out of large-caps will become evident in August, weighing on the S&P 500, he said.
- This rally should be bigger than the one seen last year, Lee added.
A rally may be brewing in overlooked parts of the stock market.
On Monday, the small-cap Rusell 2000 climbed 1.8%, reaching a high not seen in two and a half years.
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