Cease-fire means the bottom is in, declares strategist Tom Lee

Cease-fire means the bottom is in, declares strategist Tom LeeListen(2 min)Listen(2 min)Strategist Tom Lee thinks the newly-announced cease-fire between the U.S and Iran obviates a punitive bombing campaign and means “the bottom is in” for the stock market. Should the S&P 500 index SPX break back up above its 200-day moving average then “a decisive move higher” is likely.The 200-day average for the index, an important technical indicator for the market, currently stands around 6617, according to the co-founder and head of research at Fundstrat. The E-mini S&P 500 futures continuous contract ES00 is already trading way in excess of that on Thursday morning, up nearly 2.5% at 6820.About the AuthorJules Rimmer is a markets reporter in London.Rimmer spent more than 30 years as a trader and stockbroker in financial markets, starting at Salomon Brothers in the Liar's Poker era, taking in ING Barings, Jefferies and ending it in emerging markets at Investec. He hung up his headset and pivoted to journalism in 2021.A Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.