Whenever i see market timing discussions, I like to refer to these two articles:
What if you only invested at market peaks, before crashes?
http://awealthofcommonsense.com/worlds-worst-market-timer/So long as you didn't panic and sell, you'd do just fine. In fact, more than fine. Bob invested $184k (not inflation adjusted) over about 40 years, and ended up with $1.1 million.
And conversely, what if you only invested at market bottoms? Now here they assumed you invested within 17% of the market bottoms (assuming you can't time it perfectly). For the US markets, you would've actually done worse than just standard buy and hold. For the total world index, there was a difference of 0.07% CAGR. For Finland, the best case, you would have had a 2.66% better CAGR.
So you can certainly do better. But for most countries/regions, it's not the spectacularly better that I was expecting. I was expecting something like Peter Lynch's amazing 29% CAGR over 20 years at Fidelity.
Considering how hard it is to time the market, I don't think it's worth your trouble.