Most Wall Street stock strategists are calling for the stock market to rise 5 to 10 percent next year.

But James Paulsen, chief investment strategist at Wells Capital Management, sees stocks ending 2014 little changed from current levels. The Standard & Poor's 500 Index closed Monday at 1,841.07.

The S&P 500 could soar to 2,000, but that won't last, Paulsen tells CNBC. And at some point next year, stocks will endure a 10 percent correction, he says.

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So should investors exit the market?

"It's going to be a difficult call," Paulsen notes. "I don't think the bull [market] is over. I think the bull is going to take a pause next year and continue on higher in 2015."

Volatility will rise next year thanks to the increasing velocity of money supply, Paulsen contends. That acceleration is occurring for the first time since the economic recovery began in 2009, he argues.

While Paulsen recommends cyclical stocks for early 2014 and defensive shares for the second half of the year, the strong play for the year will be commodities.

Meanwhile, several financial newsletter publishers who earned entrance into Hulbert Financial Digest's Honor Roll of Advisors for 2014 are bullish on stocks.

A total of 12 advisers made the grade, based on their performance in both bull and bear markets since the market peak of early 2000, Mark Hulbert, editor of the Digest, writes in Barron's.

Of the 12, only four offer stock-market timing views, and all of them sound bullish notes on equities.

They now allocate an average of 88 percent of their model portfolios to stocks, up from 86 percent a year ago, Hulbert says.

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