It's been a grim start to the year as far as equity markets are concerned, but one strategist has told CNBC that it's only a "nasty market correction" rather than the beginning of a bear market.
It might not be time to buy quite yet, but Bob Parker, a senior advisor for investment strategy and research at Credit Suisse told CNBC Tuesday that investors should be poised for a rally in February, after equities find a base later this month.
"Over the last 10 days we have had, as I call it, a confluence of many negative factors in markets, therefore the major correction we've had isn't that surprising," Parker said.
"The key question is, is this a correction or the start of a major bear market? My argument is it's very similar replay to what we had last August and September. This is a major nasty correction, (but) we're now a large way through that correction," he added.