The market may have bounced back from the recent sell-off, but trader Kenny Polcari isn't confident the upward trend will last.
U.S. stocks notched a 5-day win streak on Thursday after suffering a massive sell-off last week.
"The speed at which we broke through every one of those technical levels … my sense is it's not done yet. It needs to do it again to confirm that the buyers are really there," the director of O'Neil Securities said in an interview with "Closing Bell."
U.S. stocks rose sharply in choppy trading on Thursday, with the Dow Jones industrial average ending 306.88 points higher at 25,200.37. On Wednesday, the major averages climbed back from the correction levels hit during last week's sell-off.
Michael Yoshikami, founder and CEO of Destination Wealth Management, said the bounce is due to investors who are afraid of missing out on the market.
"There's this buying pressure that happens when markets drop and when 10 percent down feels like a screaming opportunity to people that have been in cash for years, I think that's when you start to see upside pressure," Yoshikami told "Closing Bell."