Stocks appeared to have run off a cliff, Josh Brown of Fusion Analytics said Wednesday.
"The market stopped going up, and it was almost a Wile E. Coyote thing," he said. "Throughout the month of July, as long as you didn't look down, the market was fine. Once we looked down, that was the moment where people said, 'OK, too far, too fast. Let's take something off. Too many macro events happening in September.'"
Stocks opened lower and declined further midday.
But much like the cartoon character perpetually in pursuit of the Road Runner, the stock market ultimately will bounce back, Brown added on CNBC's "Fast Money."
"I think this is healthy," he said. "I think this is what you want the market to do if you're longer-term constructive. You certainly don't want to see 3 percent gains every month in the S&P and expect that to continue.
"So, if we're going to sell off, here's the good news: Seasonally, this is exactly where we should."
Stephen Weiss of Short Hills Capital noted that stocks had reacted to new initial jobless claims, which had fallen to a 6-year low.
(Read more: The really bad news behind the jobless claims drop)