The UK is heading for what looks like a "hung" Parliament with no party having an overall majority. This is not necessarily a bad thing as nothing much will (can) happen which should lead to some sort of stability provided the parties can work out deals. It tends to avoid extreme policies which is good for business.
In Europe the Greeks look to be heading for a debt default which will bring and exit from the Euro. What this would mean for the Greeks and Europe as a whole nobody seems to know.
All of this means considerable uncertainty over a large part of the trading area of the West. With indexes around record highs and the thinking might be that for now cash is king and if you are sitting on some hefty profits take them and wait until perhaps September/ October when the dust has cleared for a possible re-entry.