( This story is for CNBC Pro subscribers only ). JPMorgan strategist Marko Kolanovic said Wednesday on " Fast Money " that he thinks the next few weeks will see a limited re-opening of the United States economy and another move higher for stocks. Kolanovic said in late March that some alternative data pointed to a faster peak for coronavirus cases and a rebound in stocks, and since then the market has erased a big chunk of its losses as some of the hardest-hit areas from the virus, such as New York, start to show encouraging signs of progress. The first leg of the rally was fueled by funds rebalancing at the end of the first quarter, Kolanovic said, but he believes hedge funds and those with systematic strategies are still waiting to jump back in. "Positioning is still light, and that's also one of the reasons we're positive here. The only concern would be that if the crisis lasts too long, retail investors and citizens will have to dip into their 401Ks," Kolanovic said. The strategist said that he expected to see "limited moves" to restart the U.S. economy within the next week. He pointed to Germany, where Chancellor Angela Merkel said that some small businesses will open on Monday and schools will start back on May 4, as an example of what that may look look. Improvement on the economic front could be one of the sparks to move those other funds back into stocks, Kolanovic said. He said earlier in the week that there would be "full asset price recovery" by the first half of next year. "If we can get some better data, better sentiment, and we can hold the levels here, eventually in the next few weeks you'll see inflows from systematic folks, which can actually give us the next leg higher," Kolanovic said. Kolanovic said there will be some "new normals," such as temperature scans, once the economy returns to something close to full capacity, but that could be helpful overall. "Once we get used to it, I think there's going to be economic value added" because it will help stop the spread of other viruses like the flu, Kolanovic said. Watch the full interview above.
