Investors should be hesitant to dive into stocks after the rate cut, with election uncertainty looming, Fundstrat’s Tom Lee says

• Tom Lee has long called for a stock market rally after the Federal Reserve cuts interest rates.

• But after Wednesday’s big 50 basis point cut, Lee says he sees uncertainty looming ahead of the election.

• Other analysts have also warned of volatility leading up to the November vote.

Prominent stock market bull Tom Lee has long called for a big rally after the Federal Reserve cuts interest rates.

But after a big 50 basis point cut on Wednesday, Lee says he’s feeling cautious ahead of the November election.

“This Fed cut cycle I think is setting the stage for markets to be really strong over the next one month or next three months,” Lee, co-founder and head of research at Fundstrat Global Advisors, told CNBC in a Thursday interview.

“But, what the stocks do between now and let’s say election day, I think is still a lot of uncertainty….