Where is the evidence that the market could "slap (you) in the face" soon?
There is none. With respect, the very person who recently told us to ignore speculative comments like this has just made one himself!
The facts all point to continued growth in the US stockmarket for the foreseeable future. There is absolutely zero evidence supporting the recession theory, let alone the crash theory. Volatility, however, is normal and to be expected. For those who are new to investing or some way from retirement do not let the daily "noise" put you off making decisions. Never attempt to time the market; instead drip-feed in your money on a monthly or regular basis if you don't want to commit yourself 100%.

Why recommend a Janus fund after their past scandals?
JABAX is a good fund but FBALX is cheaper and outperforms JABAX on a 10 Year basis.

Do a compare at MFOP, I suggest, looking at UI, maxxDD, GO status, etc....

For the week ending 1/3.
https://etf.com/sections/weekly-etf-flows/weekly-etf-flows-2020-01-02-2019-12-27

Even with u/d symmetry, things can go well (obviously; in a rising market).
SP500 capture = 1, u/d 100/100.
CAPE (whose index is SP500) u/d likewise = 1, 103/103. In its 7+y, it adds (to a $10k startpoint) ~$7k above SP500, ~$30k vs ~$23k. That seems a lot of added value.
DSENX even more than that, with its 1.12 capture. Special bond sauce is the difference from CAPE.
Is CAPE's automatic monthly operating principle marketing timing, or defensive? Or both? Must reread the P&I article @msf cites. By RGoldsticker (great name) of ABiller & Assoc.

The decision to remain on the sidelines- (with a large stash of dry powder in short bond funds and Cd's ) or to dip into some of the more conservative suggestion.
Re: charles review of IOFIX- it shows a 0.17 correlation to SPY - but it is only 4 years old. How would this do in a recession ? And Charles Commented that the strategy had a limited shelf life. Looking for other suggestions to put some cash to work. Currently greater than 60% bonds and cash. I have both 401k and taxable cash to invest. Many thanks for your commentary... it is enlightening.

Morn'in @Mark
Kinda strange many times where these folks (in this case, your Greg Carlson notation) obtain their take or bias or whatever helps them form an opinion. I don't understand his statement about Fidelity management of this fund, FBALX. Perhaps Greg should look at the chart below. You, I and many here do the grain of salt thing when reading where we should or should not be investing our monies, eh? Continuing edumacation, yes?
Anyway, just for the heck of it; I picked a few balanced funds to chart back to Nov. 2008 (this limit because of etf, AOM inception). This is a random selection of funds, most well known, that popped into my head. I have not done any analysis as to how these match up; but are generally in the 70-50% allocation for equity to the best of my knowledge. Eight are active managed, one etf and one index.
For those I've known over the years and don't want to make things worse from their own meddling, I always suggest a look at these type of funds.
Charts below are total return for the period.
First chart is 5 listings with the names at the fop of the chart.
This chart is a bit busy, with the first 5; and another 5 added.
Have a good remainder............back to me chores.
Catch

Here is a short list for consideration. I added JPST to my holdings on Friday as part of my year-end updating....
https://finance.yahoo.com/news/7-best-fixed-income-funds-163709396.html

@jafink63, the category natural resources and energy is what went down hill, not the fund itself. I haven't owned it in over 10 years, but PRNEX is a good fund if you want to be in that space.

Interesting take on FBALX from M*:
This fund lacks a competitive advantage. Summary by Greg Carlson Nov 14, 2019
"An unstable manager lineup and an undistinguished process earn a downgrade of the Morningstar Analyst Rating of Fidelity Balanced to Neutral across its share classes.
This fund is led by Robert Stansky, who can make shifts of 10 percentage points to its neutral allocation of 60% stocks/40% bonds. The equity portfolio maintains a sector-neutral position...."
(this is all I can access without a premium membership)
As catch 22 noted above the fund has returned 5.35% over the past year, 9.53% over the past 3 years, 7.97% over the past 5 years and 10.34% over the past 10 years. Feelin' lucky punk? I would like to read more just to see what this guys issues are with the fund and what he proposes as better substitutes. I'm almost willing to bet that it begins with 'Vanguard'. I'll forgive him a bit if it's PRWCX but only a bit because it's closed. This is why we (I) tune out analyst noise for the most part.

Crash, about PRENX, I see that it was +16.88% for 2019. Where or how did you come up with +116%?

PRNEX up +116% in 2019. Holy gazoochkees, Batman!

Darn! I've been positively cheated and swindled with a measly 45% increase from JAGTX!

PRNEX up +116% in 2019. Holy gazoochkees, Batman!

Why recommend a Janus fund after their past scandals?
JABAX is a good fund but FBALX is cheaper and out performs JABAX on a 10 Year basis.

Hmmm, I have JABAX at Fidelity and is NTF. Also had it at Schwab for several years. Maybe the rules have changed since I added shares last year but you should try. It has done very well the last several years compared to other like funds. I just tried JABAX at Schwab as well and no problem there.
https://cdn.janushenderson.com/webdocs/Fact+Sheet_Balanced+Fund+(Multi-Share)_3Q19_exp+01-15-20.pdf

@Crash
Fidelity minimum is $500.
Are you trying to buy this through your brokerage where your IRA or taxable accounts are held? Have you tried a test purchase there? OR is it stated at your brokerage that $100K is the minimum?
There are a number of funds such as this that have similar long term results. Is there a particular reason you chose this fund?

Moved money from PRNEX to new fund TCELX- China Revolution fund at TRP

China Evolution Fund - a subtle (or perhaps not so subtle) difference!
10% up in 3 weeks is pretty impressive so far.

....Just came across VLAAX. Looks good to me, except the ER is higher than it ought to be. In that category, I have liked and owned MAPOX, but I think we can do better than the performance that MAPOX has given us. What's not to like re: VLAAX? ($1,000 minimum to get in.)

@catch22 Thanks for the reply. JBALX led me to yet more classes of shares. JBALX minimum is $100k. So, Janus Henderson simply doesn't want our money. As I'm fond of saying, nothing should be so complicated. I'll keep looking. There's no rush.

TIAA-CREF will offer Zero-commission Stocks, ETFs and Options trades beginning 1/16/20, as per announcement I saw when I logged in just now. Also has 3000 Mutual funds now available commission free.
Shopping is going to be good in 2020.

Hi, guys. We needed a small chunk just for the down-payment on a car, after just getting here. The best available option was to take the $$$ from my best performer: PRWCX, which I've owned since 2013. Along with just a few other TRP funds, it's in my T-IRA. My wife has money in a 403b, but taking the needed cash from her 403b account would mean paying an early-withdrawal-penalty, too. Our income will surely not create much, if any, tax due. I'm not worried about that. I won't be working. (And it makes me SO happy to say that!) And she'll work just part-time.
Your logic in recommending the Roth to us is flawless. But we simply don't have much money invested anywhere that's NOT in a tax-sheltered account. We plan to do a direct rollover into an IRA for HER, with that 403b from her former job. After taking the $4,000 from my T-IRA for the car already in 2020, I don't want to add almost $10,000 more in income (her 403b) from there, too. Add to all of this, the fact that my reaction to all of the tricky, obtuse, crazy, arcane, absurd IRS tax rules leaves me just not wanting to jump through all those bullshit hoops. We already have enough current income to get by just fine...... THANK you all for the guidance and concern. :)
*This is unrelated, I suppose: My bond funds are now generating about $300 per month, and that may turn out to be very useful. Those funds are PRSNX, RPSIX (in T-IRA) and PTIAX in a regular, taxable, joint investment account. It's always been my Ace-in-the-hole to use those monthly dividends IF the money turns out to be needed, after all. That way, I can take advantage of the pay-outs without shrinking the size of my pie.