Markets are currently mired in a "sell the rally" mindset, and that sentiment will persist until investors get clarity on China's monetary policy and energy prices, Art Hogan, chief market strategist at Wunderlich Securities said Thursday.
"If we were to get either one of those things or both, or some hint towards either one of those things, I think the market can do a whole lot better," he told CNBC's "Squawk on the Street." That clarity could come by the end of the month or early in February, he added.
China's markets have twice been halted in recent weeks amid volatile trade as the People's Bank of China devalues the country's currency and regulators seek to roll back measures put in place to stem last summer's massive stock sell-off. The concern, said Hogan, is that China will commit a policy mistake or get too aggressive in its currency devaluation.