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'Plenty of worry in the market,' but this chart shows the bulls will prevail
Oct 21, 2021 | CNBC
Picture - 'Plenty of worry in the market,' but this chart shows the bulls will prevail

Long-term market bull John Stoltzfus is questioning the October comeback's stamina.

He lists risks tied to Covid-19 variants, the inflation surge and Washington policy as catalysts that could dampen Wall Street's appetite for stocks into year-end.

"There's plenty of worry in the market," the chief investment strategist at Oppenheimer Asset Management told CNBC's "Trading Nation" on Wednesday during a big day for the Dow. It hit its first intraday high since Aug. 15.

Based on market activity since 2008, Stoltzfus suggests a potentially sharp drop at this juncture shouldn't scare investors. He highlighted a chart in a recent report showing the S&P 500 saw a half dozen corrections since March 9, 2009, which marked the financial crisis' lowest point and the beginning of the next bull market.

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