Retail investors will drive the stock market higher in 2023 as they start to invest their $1.8 trillion cash pile, Fundstrat says

• Retail investors could power the stock market higher this year after they "rage sold" stocks in 2022, according to Fundstrat.
• "Retail investors were liquidating stocks at such a furious pace that cash balances sit at an all-time high," Fundstrat's Tom Lee said.
• Lee highlighted that retail investors have $1.8 trillion cash at the same time expectations for a recession are falling.

The stock market should continue to trend up to record highs in 2023, and retail investors are going to help get it there, Fundstrat's Tom Lee said in a Wednesday note.