I believe that, over this first half year, it is all about sectors and hence stock picking.The question of what the broader market, say the All Ords, will do is really irrevelent.
For example, banks will be in for a rough ride due to the European crisis.Pure resource plays will flatline being fully priced, Chinese growth having peaked. Oil and gas will contine to disappoint.
On the other hand we are already seeing a pronounced move to low risk, reliable income stocks which have no direct foreign exposure.Examples include SWM,TLS,APZ,APA and ENV.
