Uncertainty over when the Federal Reserve will start raising interest rates is another volatility driver.
"They've told us when they are not going to do something, but there's no known date of when they are going to do anything," Kinahan said.
And, "until you see three weeks of stability in crude, it's going to spell volatility in the market," said Kinahan.
On Friday, U.S. oil fell another 8 percent for the week, its seventh weekly drop, finishing at $48.36 a barrel.
"If crude continues to go lower, what does that do to stocks in the energy sector? And airlines, are you going to cut profit margins because you haven't cut expenses? It leads to so many questions, so the conference calls are going to become more interesting," Kinahan added.
The most significant economic report in the coming week is the Consumer Price Index on Friday, the analyst said.
"Until then, everything stays earnings, we'll see what CEOs say for the next two to four quarters in terms of their outlooks," said Kinahan.
On Friday, U.S. stocks dropped, pulling benchmarks back into the red for the year, as the December jobs report topped expectations but hourly earnings declined, and investors tracked events in France after Wednesday's massacre at Charlie Hebdo magazine in Paris.