The hurdles are low for another 10% gain for the S&P 500, says this Wall Street veteran

Grinding out its 25th record close for this year, the S&P 500

SPX pushed past some pre-Fed meeting jitters on Monday, with more highs seemingly on the way for Tuesday.

Concerns by some investors that a rapid run-up makes stocks ripe for a pullback assumes a market that’s “driven by sentiment and animal spirits and not by fundamentals,” says Wall Street veteran and recently-appointed chief equity strategist at Seaport Research Partners, Jonathan Golub, who clearly disagrees with that view.