What is Market Timing?

Legal Definition
Market timing is the strategy of making buy or sell decisions of financial assets (often stocks) by attempting to predict future market price movements. The prediction may be based on an outlook of market or economic conditions resulting from technical or fundamental analysis. This is an investment strategy based on the outlook for an aggregate market, rather than for a particular financial asset.
-- Wikipedia
Legal Definition
Stages of economic cycles, health of the economy, direction of interest rates, inflation, and stock-share prices factor into this timed shifting of money from one type of investment into another.