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

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

Which one happens first? Dow 20,000 or S&P 2,000?

Today's a day for the record books.

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

Both indices have had incredible runs so far this year. The Dow 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 big round 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 to reach 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 just because it has a shorter distance to go.

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

Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson, says the S&P 500 isn't just poised to break 2,000. His charts are targeting a number even higher.

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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 a potential pullback, it's [the S&P 500's] long-term chart that you have to continue 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 the trend."

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

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