Analyst: Market Will Rise For At Least The Next Month
Chris Johnson, chief executive officer and chief investment strategist at Johnson Investment Research, told "Squawk Box" Monday that he expects the market to rise for at least the next month.
“The bottom line is that we’re seeing a lot of signs right now that the short term technicals and the short-term sentiment are indicating higher prices over the next month or so,” he said.
But the great fire sale that many investors anticipated may be over.
“The investors who were willing to run into the fire about a week and half ago when we saw the markets plunge -- that may have been the sale that investors were waiting for,” he said.
Johnson said lower earnings could drag the market down, but he remained optimistic about technology and financial stocks.
“Right now I think technology is going to offer us a rare opportunity for the short term, maybe the next month or two, and I think we’re going to see some of those QQQQ component companies (QQQQ is Nasdaq 100 Trust) that are going to outperform,” he said. "(I) still like the financials – they’ve been beaten up right now.