Right now the economic trend in the United States is positive, but the "party" for the market will come to an end later this year and a recession will likely hit in 2016, a market expert told CNBC on Thursday.
"The market looks for recessions. It's forward looking. I think next year is when the recession will come so if you back it up six months it puts us into the end of this year when I think the bear market starts," Ken Moraif, a senior advisor with wealth management and investment firm Money Matters, said in an interview with "Closing Bell."
Moraif contended that prosperity triggers a recession because of oversupply.
"The businesses in the economy want to supply the demand. So everybody stocks up on inventory, homebuilders build tons of houses and then all of a sudden there's this massive oversupply," he said.
"I think everybody is going to try to stock up with as much as they can. They don't want a customer to walk in and not be able to buy their product or service."