The major indexes (^DJI, ^IXIC, ^GSPC) are seeing gains in their five-day moving averages as they recover from the prior week's sell-off. Stocks remain largely flat Wednesday morning after the release of July's Consumer Price Index (CPI) print, which illustrated inflation cooling.

Carson Group Chief Market Strategist Ryan Detrick believes last week's market pullback is not wholly indicative of a bull market.

"What I'm getting at [is] because everybody's saying this is a bear market rally, it's bearish. No, this is not, this is kind of consistent with the bull market in our view," Detrick tells Yahoo Finance. "And we think those lows that were hit early last week are probably it for this 8.5% correction. And now you're back to your regularly scheduled bull market."

Detrick goes on to talk about opportunities in small-cap stocks (^RUT) and how a US recession could show up corporate earnings down the line in late 2024.

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This post was written by Luke Carberry Mogan.