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Market is in a 'Sweet Spot' — Until Winter: Chief Strategist

The market won't retest its March lows, but it will turn choppy around January or February, said Joe Quinlan, chief market strategist at Bank of America.

"We're in a sweet spot right now," Quinlan said.

"The global economy's much improved, the US is coming along, so right now I think a lot of investors are kind of rushing in to get the year-end peformance."

Quinlan recommended investing in emerging markets, but said investors should look outside of the BRIC countries.

More Market Wisdom:

Instead, they should look into Africa, the Middle East or Turkey, he said.

Asia also offers opportunities outside of China, in countries like Singapore, Thailand and Malaysia — a good place for buying commodities

With the US' growing deficit, Quinlan advised investors to avoid Treasurys.

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CNBC Data Pages:

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CNBC Slideshows:

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Companies That've Reported Earnings This Week:

Alcoa

  • Alcoa Reports Surprise Profit; Sales Also Beat

Costco

  • Costco Profit Falls, but Tops Views

Yum! Brands

  • Yum Brands Earnings Easily Beat Expectations

Pepsi Bottling

  • Pepsi Bottling Profit Beats Estimates

PepsiCo

  • PepsiCo Earnings Beat Expectations; Outlook Affirmed

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Disclosures:

Disclosure information was not available for Quinlan or his company.

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