A surprisingly dismal May jobs report this week shocked the market, and may yet sweep the prospect of a June rate hike back under the rug.
However, one of Wall street's biggest bull told CNBC that despite a delay from the Federal Reserve, a June swoon is very much still on the table.
"We're not talking a 5 to 10 percent correction, but we think you're better off buying the dip," Tom Lee, managing partner at Fundstrat Global Advisors told the "Fast Money" traders this week.
According to Lee, a confluence of events make a market 'pause' much more likely. These building financial and market forces include stocks posting three straight months of gains; high-yield spreads setting up to widen; the U.S. dollar reversing course, and disappointing economic data that all point to a less liquid environment for equities, he said.
"Things that have been tailwinds are not necessarily supportive in June," said Lee. "We've met with a lot of clients and the ones who've made money through May are booking profits."