Expect a big move for the markets after the election: JPM strategist

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The fate of the market lies in the hands of the next president of the United States, says one JPMorgan strategist.

"If Hillary Clinton wins, which is what polls are pointing to, the market will probably react favorably," Nadia Lovell said Thursday on CNBC's "Futures Now." "But if Trump were to win, I think that would be a surprise to the market and the market continues not to like uncertainty."

In other words, the market could fall after a Donald Trump victory due to such an event being the more unexpected outcome, whereas a Clinton win is currently seen as the more likely event based on poll numbers. Recent polls show that Clinton continues to have a narrow lead over Trump ahead of Sunday's second presidential debate.

"We saw the same thing happen in Brexit where [there was] a momentary pullback in markets, and then markets rebounded off of that after uncertainty," added Lovell. "So we look for markets to be somewhat range bound through the election and then if we do see a Hillary Clinton win, we would expect a pop on the market."

Leading up to the election, Lovell believes that health care is a sector for investors to look into, as many health-care companies offer attractive yields. While health care has dropped more than 5 percent since hitting a year-to-date high in August, Lovell does see an opportunity to buy the pullback.

"The space is trading at a 10 percent dividend discount to the overall S&P, that's well below its historical premium of 13 percent," said Lovell. "A lot of that pullback has to do with the election noise around the sector, particularly around drug pricing."

In the long-term, Lovell expects the to rise 6 to 7 percent in a year's time.