“As bearish as I am, you can’t ignore the fact that there’s a tremendous amount of momentum left in this rally,” Hefty told CNBC.

“Today, we’re making our last buy into the market to be fully invested in anticipation of this next rally forward.”

“But if you don’t have a trigger finger ready to pull, you’re better off sitting in cash—you have to know when to get in and you have to be ready to exit, otherwise, you can get caught in the wrong side of the trade,” he cautioned.