I don't believe that the DOW will ever recover for good. It will make some recoveries, sure, but it will dip down again many times in the future. I think that's just how it works; you can't have the ups without the downs. Although I do agree that we're seeing an upturn right now.
It's impossible to predict how long a period of financial stability will last as there are so many different factors affecting the recovery, some of which are not known commodities to economists. The long term effects of QE have been detrimental in Japan and may be so in the United States. Furthermore, the collapse of the Russian economy will have mass effects across the world and it is unknown what domino effect this will cause for the U.S.
For investors, it is not a time to automatically think the Dow Jones has pulled out of the rut. The good tidings it has had as of late are mainly because of holiday buying sprees and lower oil prices. It is the prediction that the stock market will be a roller coaster throughout the year of 2015.
It's sometimes easy to forget that over the course of a year, stock markets can fluctuate quite a bit, and in the long haul these fluctuations sometimes get lost in the mix. The recent surge in the Dow was in direct reaction to the Fed promising that it would be patient on boosting rates. This does not mean, however, that the Dow is in full-fledged recovery.