As global capital seeks greater returns in a safe environment, the market is going to rise at least 5 percent and maybe as much as 8 percent between here and March, said Hank Mulvihill, principal at Mulvihill Asset Management.
"Global capital can come to the United States and be extremely well treated," he said, speaking to CNBC's "Power Lunch" on Wednesday. "If you had 100 billion euro to invest at a negative interest rate, in a declining currency, wouldn't you invest it in the U.S.?"
Despite headwind challenges to the market this year, the economy is doing better than has been suggested, and individual sectors are doing well, said Gene Peroni, a senior vice president with Advisors Asset Management. He pegs the Dow at 19,000 for the first quarter in 2016, forecasting double-digit returns for the next year. The Dow traded just over 17,500 Wednesday afternoon.
"We're really establishing a platform for the market to move higher," Peroni said.