Hang on. Now we have a fight over the sequester coming, and another debt ceiling crisis. Each of those should be good for a 200-300 point rally in anticipation, and a 250-500 point rally after the crisis is kicked a few months down the road. Throw in an additional 600-800 point rally if the U.S. government's credit rating gets downgraded. So, the S&P should be somewhere around 2000-3000 by mid-year.
...and the labor participation rate will be down to 52%, and GDP will be in a free fall. And none of that will matter to stock prices.