The S&P 500 is set to test 2,350 in the coming months, according to Sam Stovall, chief investment strategist at CFRA Research.
That would be a decline of 3% from the broad index's current level of 2,425.
The 2,350 level is a good buying opportunity, according to Stovall.
More From TheStreet:
- What to Expect From European Central Bank President Mario Draghi's Jackson Hole Speech This Week
- There Is a Reason Why Retail Is Crashing and It's Not Amazon, Peter Schiff Says
- A Bear Market in Stocks Is Coming, Peter Schiff Says
- Solar Eclipse May Break the Internet as Millions Share and Tweet