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Sam Stovall, other strategists see bumpy road on the way to Dow 21,000

A favorable investment environment under President Donald Trump could lead the market to move higher this year, but not without some bumps along the way, market strategists predict.

On Wednesday, the Dow Jones Industrial average set a new high, crossing above the 20,000 mark. The average is now up more than 10 percent in the past three months.

"We've gone two millennial levels on the Dow without resetting the dials, and we are not going to get away from it that easily," Sam Stovall, CFRA's chief investment strategist, told CNBC.

In an exclusive conversation on what could be next for the market, Stovall is joined by Robert Pavlik, chief market strategist at Boston Private Wealth, and Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds, who think the path ahead may not be as smooth.

CNBC PRO members can watch the entire interview, which originally appeared on "Squawk on the Street."