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Market Extra: This stock-market pullback probably has further to go: analysts

The new mantra for investors this week may be good things come to those who wait.

Wall Street pundits on Monday continued to urge caution, predicting that the stock market turbulence is far from over. Yet many of them ended their commentary on an optimistic note, suggesting that the bullish backdrop for stocks remains intact.

Stephen Suttmeier, a technical research analyst at Bank of America Merrill Lynch, said there are plenty of oversold stocks and bearish sentiment is on the rise but the market has not quite deteriorated to a point where the negative trend turns into a contrarian indicator to buy.

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