The S&P above 2,000? Try even higher than that: Strategist

The S&P above 2,000? Try even higher than that: Strategist

Today's a day for the record books.

The Dow Jones Industrial Average crossed the 16,000 line forthe first time ever. Meanwhile, the S&P 500 also broke above 1,800 for the firsttime in its history.

Both indices have had incredible runs so far this year. TheDow is up almost 22% while the S&P 500 is up about 26%.

(Watch: Market milestones feed fear of bubbles)

What's more, they're both inching closer to their next biground number: 20,000 for the Dow (25.2% more) and 2,000 for the S&P 500(11.6% more). While it seems obvious that S&P 500 has little more to go toreach its round number, could the Dow's 30 stocks outperform the S&P 500?

CNBC contributor Gina Sanchez, founder of Chantico Global,thinks it's the S&P 500 that will reach its round number first – but not justbecause it has a shorter distance to go.

"I think that the recent announcement and the market's reactionto [Federal Reserve Chair nominee Janet] Yellen's Q&A on Friday [beforeCongress] suggest that stimulus is going to be around for longer," saysSanchez. "That is going to benefit smaller companies. The S&P has smallercomponentry to it than the Dow does just by makeup."

Talking Numbers contributor Richard Ross, Global TechnicalStrategist at Auerbach Grayson, says the S&P 500 isn't just poised to break2,000. His charts are targeting a number even higher.

(Read: Bitcoin hits $750, up 107% in a week)

Noting his own skittishness when it came to the S&P 500,Ross says, "I've been cautious throughout the month of October. And, clearly,that cautious call has been unwarranted as the market continues to move higher.But, I've seen the error in my ways and while the potential exists for apotential pullback, it's [the S&P 500's] long-term chart that you have tocontinue to be excited about."

"There's a lot of reason to be invested here,"says Ross. "Not all in, perhaps, but you want to stay with thetrend."

To see what targetRoss sees for the S&P 500 and other reasons why Sanchez sees the S&P500 getting to its round number before the Dow, watch the video above.

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