As the stock market moved higher Tuesday and better-than-expected economic data pushed the S&P 500 to a new record high, some investors wondered if the ride will continue or if there is cause for concern.
"It's not just that it's making a new high … the technical qualities of this market advance, I think, indicate a very sustainable move to much higher levels," Gene Peroni, senior vice president at Advisors Asset Management, told CNBC's "Power Lunch" Tuesday.
Peroni said the move is a macro one, with not just big-cap names advancing, but small- and mid-cap names as well.
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