"The number one issue is: tech is not going to roll over, the major theme isn't going to roll over until you crack the economy. That's what happened back in 1999, that's likely what's going to happen now," Harvey said.

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"And I don't think you can crack the economy until the Fed gets more aggressive. So we'll have some wiggles, I think we'll have a pullback in the market, we'll have a pullback in big tech, but that overall theme is still in place and not until the economy breaks do we really think about that trend breaking," he stated, according to the report.

Resilient Economy: Harvey pointed out that while the central bank has been aggressive in tackling inflation, the U.S. economy has been a lot less rate-sensitive than anticipated, and the probability of a recession has come down since the March banking crisis.

"So really, you need some sort of shock to get us into a recession," he said. "We need a lot more time. This is taking a lot longer than we expect," Harvey said according to the report.

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