Hey, welcome to closing bell. Thank you, Brian. I'm Mike Santoli in for Scott Wapner. This make-a-break hour begins with stocks on a four-day sprint higher into Thanksgiving after a three-week setback. Take a look at the key indexes with 60 minutes left to go. The S&P 500 surmounting the 6800 level, once again, rising more than 4% since last Friday's intraday low.

And the Dow back to within 2% of its former peak. Take a look at the NASDAQ as well,

up almost 1% on the day. We do have the small cap Russell 2000 outperforming once again

as Wall Street locks into the rate cut playbook two weeks ahead of the next Fed decision.

The AI trade is participating, though, with another round of rotation within it as Alphabet takes

a breather following its blistering run, and we see Microsoft and Oracle.

They have been recent laggards.

They are now to the upside today, which takes us to our talk of the tape.

With the S&P 500 threatening to go positive for the month after a 5% reset, has the all-clear been sounded for a year-end ramp,

or is it time for investors to protect their gains as a rewarding year draws to a close?

Here to weigh in on all of it, FundStrat Managing Partner and CNBC contributor, Tom Lee. Tom, great to see you. Great to see you, Mike. So you had been saying, you know, let's say a few weeks ago, that we could get some choppiness in the first part of November, but you were still kind of bullish looking beyond that. What in your view has the market been contending with in recent weeks?

What do we learn? And how does it set us up for the outlook here? Yeah. Well, I think the

market's been struggling with the same things that it's grappled with all year, which is a monetary

policy direction that's not completely clear. As you know, the odds of a December cut have really

jumped around from as high as 60 down to 30 back to 80. And the second is, of course, policy

volatility because the administration does make proclamations and statements that are sometimes

head fakes but confused investors. And it's all done, it's all resulted in really suppressed enthusiasm for stocks. You know, sentiment has been bearish.

And then that, you know, led to a five plus percent pullback in the S&P 500. A lot of the more aggressive parts of the market took on a lot more pain than that. Where does it leave us in your mind?

I mean, you know, as I mentioned, four days. This market has barely even flinched at pretty much

all the hurdles that were along the way, the moving averages. We got above last Thursday's high.

We know it's kind of an upside bias the Wednesday before Thanksgiving and the Friday after.

But beyond that, where do we go?

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