Stocks will ‘probably’ go to new highs in Q4: Strategist

August has been a rough month for stocks, with the S&P 500 (^GSPC) down about 3% so far. Carson Group Chief Market Strategist Ryan Detrick expects that weakness to continue, telling Yahoo Finance Live that "a little bit more weakness makes sense in September." Detrick notes that September tends to be a "troublesome" month in general and that it makes sense to see some consolidation given the big run-up in stocks, adding that there's some "choppy, seasonal frustration" as well. Looking ahead to the fourth quarter though, Detrick is far more positive. Detrick doesn't think the U.S. is head for a recession. Combine that with an increase in earnings estimates and Detrick says investors could see "a pretty strong fourth quarter, probably to new highs on stocks before all is said and done."