Stocks snapped back from a three-day losing streak on Thursday, with the Dow rising 1 percent and the S&P 500 closing at a record high. And while many market participants question how long stocks can maintain their momentum, one top technician says the rally is just getting started.
"There are two ways of looking at the market, you can anticipate a move or react to it," technical analyst Ralph Acampora said Thursday on CNBC's "Futures Now." "I think people need to react more because so far there hasn't been a major correction."
As of Thursday, the market hasn't seen a correction in 740 trading sessions, or since late 2011. But according to Acampora, head of technical analysis at Altaira, the broad market trend is still quite healthy. "Until you see the major moving averages broken, until you see the trends broken," there is no need to worry, he said. "We can stay in this range for a while and so far, the leading averages look just fine."