After another dizzying week in the markets, as U.S. stocks staged a rebound Wednesday afternoon. But the mood nervous amid extended volatility.
The S&P 500 dipped in and out of correction territory, defined as ten percent away from its 52-week high.
Read MoreStocks at session highs
Despite the whipsaw swings, as stocks recovered from the worst start to a September in 13 years, John Stoltzfus, chief market strategist at Oppenheimer Asset Management, remained firmly bullish.
Stoltzfus told CNBC's "Power Lunch" Wednesday he stands by his 12 month target for the S&P 500 of 2,311, and earnings per share forecast of $126.
"We expect earnings to recover from weakness in the first half and China and Greece worries to recede as stateside and global growth more clearly reasserts itself and gains momentum from the fall through the end of the year," said Stoltzfus. "We're building a platform into September based on fundamentals. There are good opportunities if you think earnings can be driven by GDP."
Oppenheimer's asset allocation is currently 60 percent in stocks, 20 percent in bonds, ten percent in real estate, and another five percent each in cash and alternatives.
Oppenheimer's bold S&P 500 call: 2,311 by year-end