Part 3/5:
Another potential bullish clearing event is the nomination of the Treasury Secretary. Once we get that behind us, Tom believes the demand will be strong, and the markets will have a different perspective.
Tom Lee: Most likely, the markets will get a different perspective once we get that behind us. Once we get that clearing event, I think the demand will be strong.
The major indices have pulled back to what would be viewed as support levels, with the Nasdaq on a support line, the S&P 500 doing a retracement, and small caps holding above their bullish price.