The stock market will rally up to 10 percent in the next 30 days, according to David Bianco, chief investment strategist at Deutsche Asset Management.
Standing by his 2,850 year-end price target, Bianco told CNBC Wednesday, "A lot can happen in a month."
As an example, he cited the huge market swings seen back in January, when stocks were reaching all-time highs before plummeting into early February on rising interest rate fears.
Federal Reserve Chairman Jerome Powell's comments on Nov. 28 that rates are "just below" neutral are easing market concerns about a more aggressive path higher for interest rates, he added.
Bianco's prediction stands in contrast to other Wall Street strategists, including Morgan Stanley's Michael Wilson who sees a stagnant performance from stocks and forecasts the S&P 500 to finish next year modestly higher.
Stock were trading sharply higher Wednesday on renewed optimism about U.S.-China trade after a Wall Street Journal report said Beijing is working to increase access for foreign companies. On Tuesday, the major indexes swung between gains and losses throughout the session, with the Dow Jones Industrial Average eventually finishing lower.
Bianco did acknowledge the recent market volatility on China trade headlines has been "concerning." However, he added the markets "have spoken" and Wall Street is setting itself up for a solid 2019.
"There's a recession nowhere in site," he added, estimating the S&P 500 at 3,000 by the end of next year.