Tom Lee: Last week's tech stock sell-off was the final cleansing; the market has bottomed out.

In an interview with CNBC, Tom Lee stated that last week marked the market bottom, not the start of a deeper correction. The market rose on Monday despite negative news related to Jensen Huang and Texas's actions against Musk's company; such a rise amid bad news is a bottoming characteristic. The VIX term structure has returned to normal from an inverted state, which is a sign that the market has bottomed out.