Markets are making what looks like a bottom, says Fundstrat's Tom Lee

Market Sentiment - Recent geopolitical events have not altered the bullish outlook on equities for the next 6 to 12 months, indicating resilience in the market despite external pressures [2] - The market has shown a positive response to negative news, suggesting a potential bottoming out, as evidenced by the VIX not spiking to extreme levels [1][4] Oil Market Dynamics - Oil prices have spiked due to potential disruptions in the Strait of Hormuz, but there is an expectation of minimal long-term impact on global energy supplies, which supports a positive outlook for US equities [2] - The US government is likely to intervene to prevent high oil prices ahead of midterm elections, reflecting the political sensitivity surrounding energy costs [2][3] Technology Sector Performance - The technology sector, particularly major players like Microsoft, Meta, Amazon, and Nvidia, has shown strong performance recently, indicating a shift towards safe-haven assets amid market volatility [3] - The "MAG 7" stocks and cryptocurrencies are perceived to be nearing the end of their declines, suggesting a potential leadership role in the market recovery [4]