The market backdrop is setting up stocks for more gains this year, Charles Schwab's Jeffrey Kleintop said Thursday.
"People are starting to ask what to buy again," Kleintop told CNBC's "Worldwide Exchange." "It's been a long time since I've heard that, but I do remember echoes of it back in October of last year, when we had a similar pattern in the markets."
Last year, the S&P 500 spiked from its August lows but lost steam in late fall into the end of 2015.
In 2016, stocks had their worst start to a year ever, but have been climbing out of the basement since the Feb. 11 bottom.
"I think it's going to be different this time," said Kleintop, Schwab's chief global investment strategist. "The dollar strength has faded, commodities have begun to stabilize, and global growth looks a little better."
Kleintop said his investors are showing way more optimism. "When you speak to them, there's a question about risks and opportunity. They've been balanced to the risk side lately," he said. "That's shifted back towards opportunity."