The strongest signs that stocks have farther to climb are in second-quarter earnings results, Mary Ann Bartels of Bank of America Merrill Lynch said Friday.
"They're actually not that bad, and what I really liked about going into earnings season, if you looked at the three-month revisions in earnings for the financials sector, they were the strongest in the S&P," she said.
"And, voila, the banks reported really good earnings. And we have the banks breaking out with stronger earnings, and I thought that was a really good sign that the markets could go higher."
(Read more: Top strategist's earnings scorecard)
On CNBC's "Fast Money," Bartels identified the level that keeps the market in bullish territory.
"As long as you're above 1,650, I think the market's fine," she said.
The S&P 500 closed at 1,691.65, up 1.4 points.
Bartels also said that a rotation was happening from bonds back into equities and out of bonds in the broader market, as well as within her portfolio's holdings.