Fundstrat's Tom Lee says 'buyers' strike' is over and post-election rally has legs into year-end

A trader works on the floor of the New York Stock Exchange.
Adam Jeffery | CNBC

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The rally on Wall Street after Election Day may have momentum to continue into the end of the year, Fundstrat Global Advisors founder Tom Lee told CNBC on Wednesday.

While the presidential race between President Donald Trump and Democratic challenger Joe Biden has not been decided, Lee said investors still have more clarity now than they did in the weeks preceding the election.

"There's been a buyers' strike for the last three weeks to cash," but now that money is beginning to work its way back into stocks and helping propel the major U.S. equity indexes higher, Lee said on "Halftime Report." "There's been $4.5 trillion on the sidelines. Retail raised a lot of cash. People were really stressed into this. Now we have less uncertainty. Still uncertainty, but less and that's why we're rallying."