In January, we issued our stock market outlook for 2013.  At that time, we forecasted the market would reach 15,000 by the 4th quarter of 2013.  The market has had a nice move with the Santa Claus Rally and the January Effect, as we anticipated in our December 2012 market update.  On Thursday, March 14, 2013, the market already reached 14,500.  A natural tendency on Wall Street is to raise targets.  With 9 months of 2013 left, logic tells us we are going higher.  We will adjust our targets when we reach 15,000.

I expect the market to turn dull the next 6 to 8 weeks and have a sideways or mild correction of 5 percent or so.  As long as the market holds recent gains through April of this year, 15,000 should be reached by May/June.   I would be surprised if we reach that level without a mild correction first.

We will give a 2013 uptrend target update when 15,000 on the DOW is reached.  2014 continues to concern me, and I believe it will be a time investors should be light on stocks.