joining us now is wells fargo head of equity strategy christopher harvey you mentioned strategy as one of the reasons why. and steve talked about some of the sentiment with regards to people feeling even more robust and confident about their job, home price expectations on the rise how does it reconcile in your mind >> that is the problem >> or does it. >> it reconciles like this now everything is good you have some peers who are super bearish now turning bullish, you have everyone feeling good about the market, everyone feeling good about the economy. and that is not great because already reflective in things we're going to get some potentially bad macro news from student loan and student loan forgiveness. we may have a bit of a choppy pre-announcement season. and things are overextended at this point in time so i think that it is time for a little bit of a pullback and that good sentiment i think is bad sentiment >> how exactly then from a strategy standpoint do you look at a market that is a stone's throw away from record highs, in many cases have seen record highs for individual st

christopher inclusive of harvey likes the unlike look of welcome authorities say at least 260 people have been killed in a railway accident in eastern india. hundreds more were injured to passenger trains were involved in the crash near the city of bellis, or 220 kilometers south west of coca to prime minister a new engine. modi is due to visit the disaster side later saturday. the army has also been deployed to assist at the scene of the countries worst will accident in decades. disaster. somewhere along the end of the train tracks of india. here, 2 trains came to an abrupt told with deadly consequences. the passengers of pools to safety, 2 windows and doors rescue team. the overwhelms and locals are doing what they can to help with or to say that one of the trains derailed their breed, causing several carriages of the other train to over time. and those were left with no time to react. as i stepped out of the washroom, suddenly the train tilted. i lost my balance. i held onto something. i almost felt my body tilted my slippers, my bag. everything went flying so that people started

christopher harvey. if you have a buck note, the 10 majors are the nerds at but now. s not a chemistry major but it is like the mall -- buck nell. he joins us now. your notes is brilliant about thinking back to 1990 8, 1999 -- 1998, 1999. what is the number one study of this tech bubble versus that tech bubble? chris: the number one issue is tech will not roll over, the major theme will not roll over, until you crack the economy. i do not think you crack the economy until the fed is more aggressive. i think we will have a pullback in the market and big tech but the overall theme is still in place and not until the economy breaks, do you really think about the trend breaking. tom: is tech a set of individual companies you study at wells fargo or is it more of a sector blob? [laughter] chris: we do study tech and individual companies but we focus a lot on what we call the uber cap or the top 50 names. you can look at one or two names but that does not give you a trend. as you go across capitalization, small-cap, large-cap and mid-cap all have capitalizations. going back