Many stock investors got worried last week when comments from Federal Reserve Chair Janet Yellen indicated the Fed may raise interest rates as soon as April 2015.

Fear rose that the market is poised for a correction after its strong rally of the past five years, which has seen the Standard & Poor's 500 Index jump 178 percent.

"We are going to go through this period where every time [market] interest rates go up, the equity market will have a hiccup," Gordon Fowler, chief executive of Glenmede Trust, told The Wall Street Journal.

Editor's Note: Secret Wall Street Calendar Uses Strange ‘Crash Alert System,’ Gets 18.79% Annual Returns

Stocks will surmount those blips, because economic growth is strengthening, he said.

James Paulsen, chief investment strategist at Wells Capital Management, isn't so sure. "This is a bump in the road," he told The Journal.

While Paulsen is bullish on stocks for 2015, he thinks the S&P 500 will finish this year unchanged to slightly higher and could experience a 10 percent drop at some point.

A strong economy could send the 10-year Treasury yield to 4 percent his year, weighing on stocks, he said. The 10-year yield stood at 2.72 percent early Monday afternoon.

As for Yellen's rate comments last week, "investors are still mulling whether that was just a rookie mistake or perhaps an inadvertent disclosure of FOMC [Federal Open Market Committee] thinking," writes Barron's Vito Racanelli.

"Investors know rates are going up, and probably in 2015, yet the subject will likely remain a trip wire for market volatility in coming months."

Editor's Note: Secret Wall Street Calendar Uses Strange ‘Crash Alert System,’ Gets 18.79% Annual Returns

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