- The Nasdaq soared above 6,000 on Tuesday.
- Liz Ann Sonders thinks a boost in business spending on equipment and services will continue to drive tech stocks.
- Overall, investors are skittish and that's good long-term support for the market, she said.
Tech stocks have "come back with a vengeance" and the run probably isn't over, strategist Liz Ann Sonders told CNBC on Tuesday.
For one, there is expected to be a boost in spending by corporate America, explained Sonders, who has had a long-standing outperform rating on technology.
"The demand in this next
Plus, the repatriation of corporate cash held outside the United States back into the country should also help, she added.
The Nasdaq composite soared above 6,000 for the first time ever on Tuesday, jumping about 0.7 percent.
Tech stocks weren't the only bright spot in the market, though. The Dow Jones industrial average was up about 250 points in mid-afternoon trading and the advanced 0.6 percent. Meanwhile, the Russell 2,000 hit a new intraday high of 1,415.55.
The rally follows a recent pullback in the market. Sonders believes the action has more to do with sentiment than anything else, thanks to "skittish" investors.
"They might generate some enthusiasm in a rally mode like this, but the minute [there is] bad news or some weakness in the market, if you look at the attitudinal measures of sentiment, man they come down really, really quickly," she said. "That continues to be a good long-term support for the market."
She is also keeping an eye on what is happening with trade, noting that a trade war is the biggest risk to the market.
President Donald Trump has voted to end what he calls unfair trade practices. His most recent salvo was a new tariff, announced on Tuesday, on Canadian softwood lumber imports.
"When you think about the symbiotic relationship we have with Canada and there's no deficit there and trade is extremely important
—CNBC's Fred Imbert contributed to this report.