Expect some major moves in the market Thursday if the Federal Reserve raises interest rates, market analyst Peter Boockvar said Tuesday.
He pointed to several factors that may foreshadow the moves, including unusual action in the short end of the Treasury curve, the strengthening dollar and a rally in the stock market.
"It's very possible that the stock market rallying back to near 2,000 in the S&P is rallying itself into a potential rate hike," the chief market analyst with The Lindsey Group said in an interview with CNBC's "Power Lunch."
That could possibly lead the Fed to think the market could handle a possible rate increase, he noted.
However, he added that the market gains may also just be major positioning by a few different players.
"Bottom line is this kind of action tells you that we could be in for some major moves on Thursday if they do raise interest rates," said Boockvar, also a CNBC contributor.