Guessing the direction of the market is extremely difficult, and historically a loser's game. Time in the market always beats timing the market. With that said, we are seeing one of the first major events in a long time that has the potential to greatly shape the economic future of the US for the next decade or two. That shaping could be hugely negative, or positive, or somewhere in between. So, given the huge range of potential outcomes, and the fact that the stock market is at a historical high in valuation, moderating on the equity side is perhaps not a bad idea, if you are of an advanced age (5 years or less from retirement, or in retirement), and can afford to live with lower returns for awhile.
Retirees often shoot for 60% equity and 40% fixed income in their portfolios. This provides a moderate return over time without taking on too much equity risk. Early in retirement, many people (myself included) established a bond "tent", shifting more to bonds to reduce the potentially bad scenario of major equity crashes early in retirement, raising the chance of running out of money during retirement. I moved to more bonds because bond rates aren't bad and equity is heavily over-valued right now. A typical bond tent would be 50% equity 50% fixed income, or 55/45. I'm actually down to 45% equity 55% fixed because I can afford to be that conservative and still fund retirement expenses, and because there is a decent chance Trump is destroying the economy and it may take a lot of time to recover. While Trump's objective of reducing government spending is good for America (get it from 6% of GDP to 3%), the way he and Musk are doing it (rapid, indescriminate, tariffs, disinformation, etc) will likely throw the country and the world into a recession, if he hasn't already. The Atlant GDP forecast report for 1Q 2025 already has gone negative.
If I were under the age of 40, I'd just hold like the Texans at the Alamo, and would even accelerate investments if the market drops 25%+.
Buckle up.