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Strategist: Fear not. 10% rebound still ahead

A trader works on the floor of the New York Stock Exchange.
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A trader works on the floor of the New York Stock Exchange.

Even though the U.S. stock market is off to one of its worst starts ever, one Wall Street strategist is holding fast to his belief that we are still in a secular bull market.

"For our part, we are not concerned yet. While volatility is likely to persist for the time being, we believe a strong rebound could be in store for U.S. stocks in the coming months based on trends in several indicators," BMO Capital Markets' Brian Belski wrote in a note to clients Friday.

Here is why he believes the S&P 500 will rally 10 percent from Friday's close to his price target of 2,100 by the end of 2016.


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