Small-cap stocks can give the market the 'firepower' needed to finish the year strong, Oppenheimer analyst says

"It prompts the question — is it an opportunity or a concern? We do think it's an opportunity, given our view of where we are in the equity cycle. We think we're about 18 months into what is typically a 30-month cycle so we think this bull market has further to go," he said.

"It's this breakout potential for what you would call the 'market soldiers' that equates to the firepower that we see for the markets broadly going into the first half of 2022," Wald said.

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