In January of this year, IAP issued its stock market forecast for the DOW to reach 15,000 by year end. This goal was reached in May 2013, earlier than originally anticipated. Based on what we see in the markets, we will now issue an upgrade to our 2013 forecast and raise our year-end target to 15,700-16,300 range. The Federal Reserve’s continued quantitative easing program is helping stock market prices, and we do not see this effect ending anytime soon. It does appear that the road to our new target will be much bumpier as we go higher. There is a period coming soon (currently expected sometime in June or July), that the markets should undergo a decent correction. Our next communication will be when it appears that we are at this juncture. After this “bump” in the road to 16,000, we expect another rally to finish late this year. IAP also issued a warning for the 2014 stock market, and 2014 continues to look very poor for equities. As we approach that time period, we will start to build a case for what we see ahead. For now, our new target is the DOW reaching 15,700-16,300 by the 4th quarter 2013 or early in 2014. As always, if this forecast changes, we will alert our clients.