Rising oil prices are helping lead the market higher, and the good news should grow for investors over the next couple of months, trader Alan Valdes said Tuesday.
"I think you'll see this rally continue into the summer," the senior partner at Silverbear Capital said in an interview with CNBC's "Closing Bell."
His advice is to stay the course, but watch the market closely. That's because other than oil prices, the market is up on bad news like last week's disappointing jobs number, which could impact the timing of a Federal Reserve rate hike, said Valdes.
Stocks closed mixed Tuesday after rallying earlier in the day, with the S&P 500 closing at its highest since July 22. The Dow Jones industrial average briefly topped 18,000 in intraday trading before closing up .10 percent at 17,938.28 and the Nasdaq ended slightly down.
U.S. oil settled above $50 for the first time since July.