The S&P 500 is still in an uptrend. Pick stocks that are at support, take profits at resistance, and you will profit.
Being scared and all in cash will only make you money if stocks are going lower in price. They are now going higher and your cash is a loser. Your shorts are getting crushed.
Be selective, set your stops in case we do correct hard, but stay with the trend.
Watch the video and see if my chart analysis has any validity in your eyes.