"I would love to clear the decks, it's been over three years now since our last 10 percent correction, but I don't think this is going to get us there, depending on earnings," McCarthy said.
"To have an actual correction would make people feel better; it's been a sticking point for so many investors we talk to," said Bruce McCain, chief investment strategist at Key Private Bank.
"It would be healthy to get down to 1,900, plus or minus, or down to the 200-day moving average, it might invite some buyers in, and reignite some enthusiasm for equity prices," said Mark Lushini, chief investment strategist at Janney Montgomery Scott.
Short term, "we seem to be in that anxiety zone that often gives way to decent corrections; we're approaching the 200-day moving average on the S&P, so 1,905 essentially," McCain said.
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