"The market is a little bit expensive, but what we did see in the results was below trend earnings."
Price said that could result in some upside surprises.
The market is also preparing for news of what the US Federal Reserve will decide about paring back its money stimulus program.
A tapering announcement is due Thursday morning New Zealand time.
The strong share market was reflected by technology stock Xero which touched a new high of $18.80 earlier today. Its previous high was $18.79 on July 8.
The company, which has yet to make a profit, is valued at over $2.2 billion.
But it was not all good news.
Shares in Mighty River Power touched a new low of $2.16 in morning trade, 1c lower than Friday's closing price and well below its $2.50 issue price.
However by early afternoon the shares had bounced back to $2.19.