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Recent market sell-off is an 'early Christmas gift,' says Wall Street bull Jeff Saut

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'Tis the season for buying opportunities, says Jeff Saut, the chief investment strategist at Capital Wealth Planning.

Historically, December has been the strongest trading month of the year, but last year thesank more than 9% during the final month. But the market has pieced together a 2019 rally, with the S&P up around 24% year to date. The Dow is up almost 20%.

Saut said he believes the sell-off may continue into the middle of the week, but that does not shift his overall attitude toward the market. Despite the weak manufacturing reading, Saut said he thinks better-than-expected retail sales can propel the market higher in December.

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