NEW YORK (TheStreet) --The Dow Jones Industrial Average eclipsed its new all-time high, surpassing the 19,000 mark during trading Tuesday morning.

"How we see it, this is very classic bull market behavior," Oppenheimer head of technical analysis Ari Wald said on CNBC's "Power Lunch" today.

Not only are markets breaking out, but they are also doing so with the proper leadership, Wald noted.

"Risk is coming back to the market," he contended. "We think the bull market continues, talking about Dow up 20,000; I think that makes sense looking out into the first half of 2017."

55 Capital market strategist Max Wolff has a more cautious outlook for where we may go from these levels.

"What we fundamentally think is those terrible last eight years saw a tripling of most of the indexes and weren't that bad," he said. "There were some major disappointments, but assets weren't cheap."

He added that assets remain expensive today and questions of the presumed success of a Trump presidency maybe already be "baked in" to the market.

"We think we are much more likely to see 18,000 again than 20,000," he said.