Ralley terminates soon

But that optimism may be misplaced, said Robert Loest, portfolio manager at Integrity Funds, and he said stocks could be in for a bigger selloff a few months out. "I don't think we've seen a rebound of this magnitude following a crash and I'm suspicious."

"This is not the time for investors to be getting into stocks but to be taking profits," he said. "I think this rally can go another five weeks or so, but not three months or six months."

The week ahead: The Federal Reserve meets Tuesday and Wednesday and is likely to hold interest rates steady. Last week, Fed chief Ben Bernanke said that the recession is "likely over," although the labor market has a way to go. The Fed's statement is likely to echo that observation