Conflicting directions for the market

Not sure who to believe -
1. the naysayers that predict a further 10-15% drop in September and October (traditionally down months for the market).
2. the optimists that predict a rocky but slow recovery.

I think that there will be some rocky days ahead but
a. there is a lot of cash on the sidelines, b. corporations are rich in cash waiting for opportunities to do strategic acquisitions, c. modest growth globally and d. the large number of naysayers predicting a double dip and retail investors that have cashed out during the crash too afraid to return .......

I am currently mostly invested in banks, oil, gold, copper and real estate..... no tech or utilities. I am watching trends very closely to see if the market breaks down (doubtful with interest rates so low and so much pessimism in the general population and cash on sidelines).... I will stop out on some and go to partial cash if supports get taken out next week..... always good to have cash to pick up bargains if we have a black october.