The current rally will start fading through the first quarter, he said, and investors should use gains to reduce exposure.
Historical data points suggest that the optimism of the past two weeks isn't misplaced.
Investors are hoping that the Federal Reserve is coming close to wrapping up its inflation-fighting campaign.
“We are headed for a recession," said CFRA chief investment strategist Sam Stovall.
The prominent bull is curbing his enthusiasm for U.S. stocks.
Why did traders suddenly start buying right before the inflation report was published?
The VIX has declined on 80% of the days over the past 10 weeks ending Dec. 2.
A potentially strong finish for equities will cap a bruising year of volatility
The S&P 500 has posted two consecutive monthly advances for the first time since the summer of 2021.
If producer prices continue to fall in the coming months, that could help support corporate earnings.
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