This is the first update since early 2012.
All three metrics suggest that the Dow and, by association, the US equity markets are fully priced and have the potential for a correction. Whilst the current circumstances do not yet appear to be any where near 2008 levels, I would suggest that a 15% correction is definitely possible. This would imply a price target of just under 13,000 from the current level of 15,115.
Timing is uncertain, but a move to between 13,000 [-14%] to 14,000 [-7.3%] is highly possible between now and the next three months.
Caution at this point.
Note that current value metrics are still being updated from 2012 and may be adjusted or improved.