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.