Everything I read states market breakdown maybe around the corner, or at very least slow bleed in the months to come. Either way, fixed income is the only place to be, as all assets may decline.
The wild card of course is the world's hero, Ben Bernanke, he can give the market another pop, but each time the half-life of the effect hits. So even if he does, it just kicks the can for months, not years at this point.
On target for 2012 to be a down year, after a really strong start.