Brace yourself for a 5-7% correction in the S&P 500 this year, according to Ryan Detrick, sr. investment strategist at LPL Financial.
This would be a strong buying opportunity, if Detrick's year-end investment thesis proves true. He expects the S&P 500 to wrap up the year near its current level of 2,428.
The S&P 500 hasn't had a 3% pullback in 198 days. The index is up 8.5% since the start of the year.
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