Expert Says Market Is 'Due for A Pullback' As S&P 500 Continues Its Record High Rally: '...Healthy At This Stage'

Sylvia Jablonski, of Defiance ETFs, anticipates a market pullback, viewing it as a potential investment opportunity. This comes amid predictions of a market correction before the 2024 elections.

What Happened: On Tuesday, Jablonski expressed her views on CNBC “Squawk Box,” stating, “I think we’re due for a pullback, but pullbacks are also opportunities to come into the market.”

Jablonski explained that the market is doing well and investors should look for the long term.

She added, “I think a pullback is healthy at this stage.”

See Also: Tesla’s 9-Day Winning Streak In Question As Nvidia, Apple, Microsoft, And Other Mag 7 Stocks Rise, Forecasts Gary Black (CORRECTED)

Why It Matters: Jablonski’s comments align with recent predictions by Morgan Stanley’s Chief Investment Officer Mike Wilson, who warned investors to brace for a 10% to 15% market correction between now and November. This is due to uncertainties over corporate earnings, Fed policy, and the U.S. election.

In April, less than 30% of S&P 500 stocks were reportedly trading above their 50-day moving average, a significant drop from the 85% observed in late March. This indicator of poor market breadth suggests a broad swath of the market is facing downward pressure.

Meanwhile, market analyst Donald Schneider suggests that investors are pricing in a Donald Trump victory and a GOP sweep in the upcoming elections, which they see as positive for equities.

Read Next: Market Is Factoring In ‘Not Only A Trump Victory But A GOP Sweep’ After Biden’s Tepid Debate Performance,Says Analyst: ‘Investors See A Trump Victory As Positive For Equities’

Image via Shutterstock

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari