This could be your final opportunity to reap big gains from the Trump rally.
PNC Asset Management chief investment strategist Bill Stone says Wall Street is overestimating earnings strength for 2017, and that's just one of the things that could nudge stock prices lower.
"We're looking for a mid-single-digit earnings growth rate next year for the S&P 500. The Street is probably roughly double or a little more than that," Stone said Tuesday on CNBC's "Futures Now."
He cites a stronger and the potential for global growth to slow down for his below consensus forecast.
Stone's latest thoughts come as the Dow ended the day at a record high of 19,251.78. Since Donald Trump won the Nov. 8 presidential election, the index has now closed at all-time highs 11 times and is up more than 5 percent.
Stone is also closely watching next week's Federal Reserve policy meeting, where investors will likely see the first interest rate hike in a year and the second in a decade.
"It's a done deal that they do it," said Stone. "We think two hikes next year."
Even though the Trump rally may be in its final leg, Stone predicts financial stocks, which are up more than 15 percent since Election Day, will see more upside in coming months. He has been bullish on financials since the beginning of the year.
"I think they are in a good place because if you think about it, they have been poor performers until ... recently. The yield curve has gotten really steep and may in fact get steeper," he said. "You have the opportunity, hopefully if the economy continues to strengthen, [for] some loan growth. So, I think that has a good story."