div > div.group > p:first-child"> Chris Harvey, Wells Fargo Securities' head of equity strategy who turned extremely negative on 2019 after last year's Christmas Eve crash, struck a more positive tone on Tuesday in an interview with CNBC's "Futures Now."
"We did expect equities to go higher, and they did," he said."They just [have] gone higher faster than we would've expected. The other thing is, ... when we made our price target, the Fed looked like it was going to raise rates consistently this year. They did a 180 at the beginning of the year and we've just been a little bit slow to react."
Now, with the Fed expected to maintain its cautious outlook on Wednesday afternoon following its two-day meeting, Harvey sees some downside risk.
With Indexes' trading at new highs almost daily, a slow down is ineveable. Always remember markets trade ahead of conditions. Especially in a rising market. MarketWatch business