Kleintop expects to see more investors move from bonds to stocks, and 2014 may be the year that individual investors return to the stock market in a big way. He pointed out that, in the last several weeks, the difference in the five-year annualized return between stocks and bonds has jumped to 10 percent from around 2 percent in August. He said the rolling five-year return appears to be the return investors have most closely followed for the stock market, based on their behavior.
"The one-, three-, and five-year trailing annualized returns are now in the double digits for the first time this cycle," wrote Kleintop. "This may prompt many investors to reconsider the role of stocks in their portfolios – especially as interest rates rise and bond performance lags."
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Stovall said it's possible stocks could see a slight pullback before year-end, but the market is also setting up for a larger correction that could be a while coming. "I think it's a possibility. There are an awful lot of stocks that are still trading below their May 22 highs, so I think people would be very interested in harvesting some tax losses since they have such gains they might want to offset," he said of a pullback. The S&P 500 is up 24.2 percent year-to-date.
Stovall said the market has now gone for 25 months without a major correction of 10 percent or more. "The average time span has been 18 months, and the median has been 12 months. We're at 25 months. There have been six times since World War II that we continued to advance between six and 60 months."
As for this year, should the S&P 500 end with a more than 20 percent gain, there's a good chance it will be up double digits next year too, he said. "In the years after 20 percent gains, the S&P has risen an additional 10 percent," he noted. "Great years beget good years."
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Traders are also expecting a 'Santa rally,' which happens about 70 percent of the time. That is when the market rallies in the last five trading days of December and into the first two days of the New Year.
This year, Thanksgiving has the added bonus of also being the same date as Hanukkah, but that might not be positive for stocks. "Because the holidays now match up, there could be additional reason to lighten up or at least close some overly exposed positions so you can enjoy your family and not worry about the market," Stovall said.
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—By CNBC's Patti Domm. Follow here on Twitter @pattidomm.