Stocks are trading at record highs, but one investing pro says that oil market history is flashing warning signs of what’s next for equities.

Investors are looking through the ongoing conflict in the Middle East, expecting a peace agreement from the US and Iran any day now. Jim Paulsen, a veteran market strategist with decades of experience on Wall Street said that history suggests that stock pressure ensues after oil prices peak.

“While not expecting a bear market this year, I wouldn’t be surprised by another S&P 500 selloff before a rally closes out the year near where we are today,” Paulsen wrote in a Tuesday note.

He said that the expects investor relief from an eventual deal could be “a…