The stock market is likely to trade in a narrow range from here given the strong gains over the past four months, but it will eventually move higher, according to Ralph Acampora, director of tactical research at Altaira Capital Partners.
"I think it could be something like we just saw in December, January and February. It could be a very tight trading range — 2 or 3 percent — unwind the excess of the last couple of weeks and move on higher," the widely followed technical analyst said.
"I don't have much technical evidence to suggest much worse than that, at least not now," he added.
In this conversation, Acampora is joined by Mike Allison, portfolio manager and director of equity strategy at Eaton Vance Management, who weighs in on what's next for the market.
"As the Fed begins to tighten, we tend to see a rotation from the so-called bond proxies or high dividend yielding equities into equities that exhibit more dividend growth," Allison said.
Only PRO members have access to this full segment.