How long before you need the money back, which decides more about what you should hold than any view on the market does. Money needed within a couple of years has no business in equities at all, because the PSE has had multi-year stretches of going nowhere and a forced sale during one is what turns a paper loss into a real one. A horizon measured in decades is what makes ordinary volatility survivable rather than dangerous.
See every term in the full PSE investing glossary.