Why investors should buy the ongoing dip in stocks, Fundstrat says

Fundstrat's Tom Lee advises buying the ongoing dip in stocks despite troubling economic data.

Tech stocks have stumbled recently due to disappointing earnings and chip sector volatility.

Lee says upcoming Fed guidance and potential rate cuts could shift markets in a positive direction.

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It's a prime time for investors to buy the dip in stocks, with the market flashing a handful of signs that there's more upside on the way, according to Fundstrat's head of research Tom Lee.

The ultra-bullish analyst, who's previously predicted the S&P 500 could nearly triple by the end of the decade, says the ongoing tech-driven stock sell-off is actually a buying opportunity.

It's a bold short-term call given recent wreckage in the market. The tech-heavy Nasdaq 100 has lost nearly 5% in just two days amid disappointing earnings reports and volatility in the chip sector.

Lee says the sell-off has likely been fueled by a culmination of factors, such as uncertainty surrounding the presidential election, lingering geopolitical tensions, and ongoing concerns over a recession.

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