Art Cashin: Expect a 3-4% Pullback Going Forward

“We’ve got a market that’s subsisted on a diet of positive news and that news is getting less bang for its buck at this stage of the rally,” Piskorowski told CNBC. “We’re due for some consolidation and the market hasn’t seen anything more than slightly less than a 5 percent pullback over the last 9 months.”

Piskorowski said although he expects earnings and economic growth to pick up in the second half of the year, it’s not going to be “blockbuster” type of year.Read more