The market will turn around. Look at a max historical yearly return chart. It goes up with some (sometimes big) dips. "If" the market does not turn around we have bigger issues at hand, like a dystopian future on the short horizon.

Age or big purchases are also a factor though. If I were about to buy a house I'd pull out into cash because there's less time for a recovery before I buy. Or if I'm about to retire I'd move investments away from stocks /growth stocks and into something more conservative.

But that's just me.