It is very difficult to determine how our economic situation plays out. The economy continues to weaken. There is no recovery under way. Markets generally seem overvalued.
On top of the economic situation is the political environment. Weak or incompetent Presidents are generally not good for markets. Here are two results from Rasmussen:
With the economy and the political situation deteriorating, perhaps it might be time to pull some chips out of the market. On the other hand, perhaps the market is reading a major reordering of the Congress in 2010 and levitating on that possibility. Your guess is as good as mine.
I see little upside regardless of a change in political conditions, at least not from current levels.