U.S. companies are expected to buy back a record amount of shares this year, but that may not necessarily be good news for the market, strategist John Blank told CNBC on Monday.

According to a Goldman Sachs analysis, corporate buybacks appear poised to reach the $1 trillion mark this year.

"There's a riddle in play here," said Blank, chief equity strategist at Zacks Investment Research. "This is the good news that is bad news."

In fact, the last time there was a big surge in buybacks was in 2007, he pointed out. The financial crisis hit in 2008.

"This is a cyclical move," Blank said on "Closing Bell."

"What we may be seeing is the end of the bull market because the forward look on earnings peters out in another two quarters and this thing is over."