How Far Can This Rally Go?

Top ranked equity linked strategist on Wall Street JP Morgan's Marco Kalanovic just named to that top spot by institutional investor he is now with us on the phone. We are expecting this year to end up at 225 dollars on S&P earnings so slightly above consensus so there's going to be some hits in misses you know this this earning season but we overall think it'll be sort of in line with what we expected. Overall we have basically toned down a notch our optimism although we are still in that net a positive on the market yes see I want to get a little deeper into that to help me understand how given you've just reduced your earnings expectations that you could possibly be as constructive