Amidst the market's carnage since last Friday, Goldman Sachs (unsurprisingly) has some comforting advice to investors.

"The stock market correction appears to be more technical and positioning-driven rather than fundamentally-based," Goldman Sachs equities strategist David Kostin said in a note Tuesday. "We believe the fundamental drivers of the equity market remain intact and reiterate our S&P 500 year-end 2018 forecast of 2850 (+8%)."

Kostin points out that factors such as tax reform, rising oil prices and a weakening U.S. dollar should be supportive of higher stock prices. In other words, those investors worrying the Dow's crash from its record highs is signaling a looming recession that crushes profit margins should simmer down a bit. The strategist recommends favoring cyclical companies that boast low labor costs and strong balance sheets.

Although top-shelf markets wisdom, Goldman's advice may be of little ease to whipsawed investors. 

The catalyst for Monday's selloff came as bond yields spiked after the U.S. added 200,000 jobs to payrolls in January, above forecasts, and yearly wage gains rose at the fastest pace since the Great Recession of 2008-2009. For many traders, the wage gains were a sign the Federal Reserve will have to pick up the pace of its rate hikes.

Cautions Kostin, "We continue to forecast limited valuation expansion given rising interest rates (from 2.7% today) and a historically expensive market despite the drawdown (87th percentile of valuation since 1976)."

TheStreet's founder Jim Cramer discusses volatile stock markets below. 

-Joseph Woelful contributed to this story.

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