The Market Is a 'Tightly Coiled Spring'
More gains ahead for stocks?

The Nasdaq Composite closed at a record high on Wednesday for the third time this week, while the Dow Jones Industrial Average, S&P 500 and Russell 2000 rose as well, though not as impressively, all finishing in the green.

Despite the health care bump evoked by President-elect Donald Trump during his midday press conference, one of the leaders during Wednesday's session proved to be the transports.

"The important thing is, the airlines have had a great run a lot of them up around 25% with the hopes business will be better, multiples have expanded," CNBC's Bob Pisani said on "Closing Bell" this afternoon.

Initially after the Trump presser, markets moved lower, the dollar dropped, and so did yields.

"I think the market is a tightly coiled spring tight now. We are at historic highs, investor sentiment is bullish, and volatility is low," Pisani said. "People are expecting a lot of big things from the stock market, but slightest disappointment is a major problem."

Leading him to his hypothesis that once earnings season kicks off on Fridays, with the large banks, in particular, it could prove to be a "speed bump" in the markets. Pisani is anticipating "cautious" reports from companies.

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