Stocks have staged a massive comeback from their mid-February lows — and that has lit a fire underneath some of Wall Street's biggest bulls.
Last week, an encouraging U.S. jobs report helped blue chip stocks end a turbulent two-month stretch, with the Dow Jones Industrials closing above the psychologically-key 17,000 level for the first time since early January. The S&P 500 Index also jumped to a 2-month high.
"On the margin there's a lot of puts and takes, but the tone is really different," Fundstrat Global Advisors, Tom Lee told CNBC's "Fast Money" last week. "For January and February, for the most of the month, it was universally negative and I think in the last few weeks things have really changed."
Lee, who is the biggest bull on the Street, has an S&P 500 2016 year-end price target is 2,325 and sees the market returning to its most recent high of 2,130, by May.
Oppenheimer Chief Market Strategist, John Stoltzfus, believes that the broad market will continue to grind higher to 2,300 by the end of 2016 – but there's no reason to get overly excited about mini-rallies along the way.
"I think things keep getting better at a creeping kind of rate. It's a Larry David kind of market," Stoltzfus told "Fast Money" recently. "You got to keep your enthusiasm curbed. Right-size your expectations, and you just might be positively surprised."