"The reopening trade is still very much alive," said Oliver Pursche, senior vice president at Wealthspire Advisors in New York. "And you're seeing that in the relative underperformance of the high-flying tech that did so well throughout the shutdowns."
"Things are now getting back to normal from a period of suppressed pricing," Pursche added. "Prices are getting back to their equilibrium. One month of price spikes does not make a trend."
"A lot of investors are worried about the stock market highs, but that doesn't mean it can't get higher, and the economic conditions are certainly set up for a positive equity environment," she told Bloomberg TV.