'Recession and bear market fears could return very, very quickly,' market watcher Jim Paulsen warns

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Leuthold Group's Jim Paulsen is tempering his bull case due to uncertainties gripping the market.

div > div.group > p:first-child"> Even though he believes the S&P 500 could rally at least another 10%, there's a catch."Between now and the summer, we're going to decide whether the economy is going to hold together or whether we're falling off a cliff," the firm's chief investment strategist said Wednesday on CNBC's"Trading Nation." If we're not falling off a cliff, it could go quite a bit higher in the second half of the year.

Yet, the S&P 500 is up almost 23% from its December low and more than 15% this year. The index is just 2% from its all-time high.

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keep talking us into a recession !!!! is he short all stocks?

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