Jim Iuorio of TJM Institutional Services says he's glad to see the holiday calm settle over the markets, and he's spotted some sectors he believes will lead the markets out of the abyss.
"Normally, as traders, we love volatility, but right now, calm is completely welcome," he told CNBC. "We want stabilization as things start grinding higher again; the longer we can put between when things were at the lows over a month ago, the better people can feel about trickling back in."
Iuorio is convinced that banks and financial services , which led the markets down, will not be the ones to lead the way back up.
"I think people are going to be a little bit 'once-bitten, twice-shy' on those," he said. "I think it's going to come back to things that are a little bit off the radar, things like health care and technology."
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Disclosure information for Jim Iuorio was not immediately available.