I'm holding short ETFs and funds. See Trade History.
Friday/Monday are the raw I1 formal sell signal dates as stated in the 2011 Annual Forecast.
I have been using the 30-day I1 to get on the broad trend change.
At the end of any extended bull move the number of trend believers is large and buy on dips and support. Breaking this one will break confidence and lead to more selling. The Fed is due to terminate QE2 at the end of June but I do not believe that the stock market will wait that long. There is already talk in the mainstream about the negative effects for the stock market at the end of QE2. The smart money is ahead of the curve.
The bond market will peak after a final rally/breakout here and would surprise traders with another decline.