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Beyond 1600, Why the S&P Is Set to Surge

Stifel Nicolaus market strategist Barry Bannister believes the S&P has more upside. A lot more.

"It's lonely at the top," says Bannister with a wink on CNBC’s Fast Money.

Bannister was making a little joke but he's quite serious about his year-end price target.

He thinks there’s a good chance the bulls get some traction in the second half as investors grow more willing to pay a higher multiple for financials and technology stocks.

Get all the details. Watch the video now!

Posted by CNBC's Lee Brodie

Read More from Fast Money:

> Simple Strategies Behind Supersized Successes

> 10 Top Stocks for the Long-Term Investor

> Top Apple Related Stocks for 2012





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Trader disclosure: On July 23, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Stephen Weiss is long BTU; Stephen Weiss is long QCOM; Stephen Weiss is long VZ; Stephen Weiss is long T; Stephen Weiss is long PCAR; Stephen Weiss is short X; Stephen Weiss is short JCP; Josh Brown is long JPM; Josh Brown is long WFC; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long SBUX; Josh Brown is long MSFT; Josh Brown is long F; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Mike Murphy is long SBUX; Mike Murphy is long FB; Mike Murphy is long URI; Mike Murphy is long BTU; Mike Murphy is long TOL; Mike Murphy is long LEN; Mike Murphy is long PHM; Mike Murphy is short XHB

For Dennis Gartman
Dennis Gartman is short CORN

For Barry Bannister
Nothing to Disclose

For Larry Mcdonald
Nothing to Disclose

CNBC.com with wires.