Already posted a link to Charles Schwab's short-termoutlook on the market, especially for YOU on a previous thread, which acknowledged a sluggish improvement, however goosed.
Also said the Dow could climb to unrealistic heights given the Fed's counterfeiting operation. They are pulling out all the stops now. It may even work, but odds are against it.
Don't understand your fetish with the Dow or dollar-denominated assets. I've suggested silver, emerging, emerging markets (not BRICS), and other currencies as better plays. Your assets are not working for you in REAL terms. Maybe some VXX & $VIX options in both directions.
As mentioned previously, deleveraging is a 7-10 year process. We are in year three. Your time frame is myopic. Nothing has changed. The Fed is merely swapping toxic assets with the big banks at the behest of the smaller banks and the taxpayer.
It would be good if O extended all tax cuts. The market may be sensing that. Without the recent election, we'd never have seen it. Without extension, a severe weakening is not off the table. Would be good to peel back some of the rest of this Barackratic constipation as well.