We shall see. Lay down your money holmes. Buy, buy, buy tomorrow for the big run-up. I am sure by June 31st you'll be sitting on a big pile of profits.
"Large dumb funds" are pretty much all-in. See for example: http://globaleconomicanalysis.blogspot.com/2010/03/mutual-fund-cash-depletion-highest.html
"all - in " in what markets? mostly fixed income. That doesn't mean the stock market is immune to profit taking. My own data shows the funds and retail are about to step into stocks in a big way.
give it 10 more years. You're getting there. In the meantime stay in school and get a employable degree.
the market seems to have made a sure top. the only thing my paranoid self is really worried about: is the top too obvious?
i like the way money is moving into bonds. notice that during Jan top and Feb micro-top the bonds were leading the decline in SPY.