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The market will 'continue to see a slow melt-up,' expert says

  • While recent market highs may have some concerned about valuations, several experts said they expect stocks to move higher, at least for a little while.
  • Meg Green is "all in, with a little cash on the side."
  • Kourtney Gibson called this a stock-picker's market.

While recent market highs may have some concerned about valuations, several experts told CNBC on Friday they expect stocks to move higher, at least for a little while.

Both the S&P 500 and Nasdaq managed to eke out new highs Friday, while the Dow Jones industrial average closed just below the flatline to snap a six-day winning streak.

"We will continue to see a slow melt-up," Kourtney Gibson, president and head of global equity and fixed income at Loop Capital, said in an interview with "Closing Bell."

"We're seeing incredible things out of the earnings sessions."

However, it is really a stock pickers market right now, she pointed out.

In fact, tech stocks have been responsible for a large chunk of the S&P 500's gains so far this year.

"We're seeing the companies that are doing well knocking it out of the park. And we're seeing those that might need some improvement falling by the wayside," Gibson said.

For Meg Green, CEO of Meg Green & Associates, now is the time to be "all in, with a little cash on the side."

She's not too concerned about the big moves in tech because the environment now is nothing like the dot-com bust in 2000.

"You need to think about this expansion, what's happening," Green said. "Today what are we looking at? You're looking at a lot of disruptions, which is why you are seeing this disconnect in the market."

That doesn't mean there isn't a correction ahead. She's expecting about a 10 percent dip.

"People will run. They'll get panicked. They'll get scared. You get the investors out that are really not the committed investors," she told "Closing Bell."

Louis Navellier, founder and chairman of Navellier & Associates, also likes the price action in the market. Plus, June will be a big month as the Russell indexes realign and some ETFs rebalance, he told "Closing Bell."

"There's still a lot of very good buying pressure," Navellier noted. "It looks very good going through July and then it'll get bumpy in August."

However, Keith Bliss, senior vice president at Cuttone & Co., sees a telling sign in small-cap stocks, which have sold off after hitting new highs in April. He believes they are key to the overall health of the market.

"When you see the small caps not participate with the large caps, you have investors that are really concerned about economic growth inside of the U.S. going forward and those are signals we need to be aware of and … keep some powder dry on the sidelines to take advantage of that," he said.

— CNBC's Fred Imbert contributed to this report.

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