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This is what stocks will ultimately follow: Money manager

Investors shouldn't worry as much about global "noise" and should instead focus on the market's long-term trend, money manager Jason Pride told CNBC on Monday.

U.S. stocks rallied more than 1 percent Monday after selling off considerably Friday, when the Dow Jones industrial average shed more than 350 points at its session low.

Pride, director of investment strategy at Glenmede, blamed the market's seesaw action on news out of Greece and China. On Sunday, China's central bank lowered the reserve requirement ratio for all banks by 100 basis points.

"You kind of have to put on the blinders a little bit to all of the noise that's going on around the world," Pride said in an interview with "Power Lunch."

Because the markets take it day to day, "sometimes it's very easy, particularly in light volumes, for the markets to get carried away on near-term indications," he said.

However, "there's an ongoing economic expansion, an ongoing profit expansion and stocks will ultimately follow that."

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However, while Pride still has large holdings in the United States, right now he's eyeing Europe and Asia because valuations in the U.S. have gotten "a little bit" expensive.

"The fundamentals are just now getting in place, particularly in Europe, and therefore we want to overweight that at this point in time because you've got both things in line: Valuations and fundamentals are turning in the right direction," he said. "It's not a slam dunk but it's better than what we see in the U.S."

For Gordon Charlop, managing director at Rosenblatt Securities, Monday's market action was not surprising.

"After the down day we had on Friday, the reversal here is consistent with the kind of way we've been stuck in a range," the analyst told "Power Lunch."

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While the markets are still being fueled by central bank policies around the world, right now the U.S. is "stuck" in a "hurry up and wait kind of environment" when it comes to when the Federal Reserve will raise interest rates, he added.

Therefore, Charlop said earnings will be the short-term catalyst for the markets. He has his eye on tech earnings in particular, which could be hit by the strong dollar. If so, he thinks there may be some movement to the downside and an increase in volatility.

—CNBC's Fred Imbert contributed to this report.