Wealth manager: S&P 500 roaring ahead

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.

(Read more: Dow recovers from 150-point drop to log 5-week win streak)

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.

Gold miners, she added, held upside potential.

"If you actually look at where the gold miners are, they're not that far off from their 2008 lows," Bartels said.

"And if you really believe the metal's going higher, the most depressed part would be the actual stock. So, at this stage, I would rather buy the mining stocks than actually go into gold."

Bartels said that she would still recommend the precious metal as being a hedge within a portfolio.

"But we don't recommend a lot," she added. "Maybe around 2 or 3 percent."

Energy stocks, too, were compelling, Bartels said.

"There's a lot of exciting things going on at the theme level," she added.

By CNBC's Bruno J. Navarro. Follow him on Twitter @Bruno_J_Navarro.

CNBC's Torrey Kleinman contributed research to this report.

Trader disclosure: On July 26, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long MSFT; Guy Adami is long AGU; Guy Adami is long NUE; Guy Adami is long BTU; Guy Adami's wife, Linda Snow, works at Merck; Tim Seymour is long BAC; Tim Seymour is long AAPL; Tim Seymour is long INTC; Tim Seymour is long SBUX; Josh Brown is long AAPL; Josh Brown is long JPM; Josh Brown is long XLU; Josh Brown is long GOOG; Josh Brown is long TLT; Josh Brown is long VGK; Josh Brown is long DXY; Steve Grasso is funds long MSFT; Steve Grasso is funds long GM; Steve Grasso is funds long F; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long BBRY; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long HERO; Steve Grasso is long HPQ; Steve Grasso is long MHY; Steve Grasso is long LNG; Steve Grasso is long MJNA; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long QCOM; Steve Grasso is long S; Steve Grasso is long ASTM; Steve Grasso is long TSLA.