Schaeffer's Senior Technical Strategist Ryan Detrick appeared on CNBC's "Talking Numbers" on Thursday, offering his always-insightful opinions about the market. The market's been stuck in a tight trading range for the past several months, something Ryan's well-aware of -- and has seen before. After the 2003-2004 rally, the market was stuck in a "sideways" pattern for quite some time, before the market rallied again. Ryan believes that same pattern is now repeating itself -- and that a rally is imminent.
Ryan sees two particular indications that the market's gearing up for a move higher, and here's why:
How can one profit in this market? Ryan reiterated his bullish position on commercial real estate and housing, citing that stocks with positive price action and negative sentiment have the potential for some nice moves higher.
So, when's the right time to jump into this market? "Now is probably the time to accumulate on some of these strong sectors that have gone up amidst negative sentiment." However, Ryan added that you should still protect your portfolio with more conservative picks such as bonds, cash, and gold.
For more of Ryan's views on the market, click on the link below.
Mid-Caps Nearing a Triple of March 2009 Lows
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