Nervous retail investors have left the sidelines and are back in the market, TD Ameritrade CEO Fredric Tomcyzk told CNBC Tuesday, before the market briefly hit 13000.
"No question the retail investor was on the sidelines through most of December and much of January," he said. "I've certainly noticed a change in momentum" in the last few weeks.
He blamed the "uncertainty around the U.S. economy and Europe" for affecting investors, who waited to come back until they saw signs of an improving economy.