Market sell-off won't last for one key reason, CIO says: There's no tech bubble to burst

"I do not see any reason to be concerned that you're going to enter a bearish pattern where the market is overbought and therefore people are going to sell. I just don't see that pattern," Manish Singh, chief investment officer at Crossbridge Capital, told CNBC.

"So if you have 100 stocks and seven of them are doing well because they have delivered earnings, that's fine. There are 90 other stocks which haven't done well, so I do not see any reason to be concerned that you're going to enter a bearish pattern where the market is overbought and therefore people are going to sell. I just don't see that pattern," he said.

"This is no different than what you see in a U.S. election year, where you have a seasonality around August and September, and then post-election, the market starts rallying," he said.

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