Macro vs Micro
The stock market today is up against that age old dilemma, do you think short term or long term. By now you know that I prefer long term but like to use short term indicators for enhancement of strategies. Short term signals have been bullish since early January and appear to be close to reversing but have not triggered yet. If they do trigger they will provide some short term activity here but whether or not they should be followed is problematic.
That is why I prefer long-term cycle levels compared to short term signals. This is especially true for the first sell signal after a long period of higher prices as it usually leads to a highly volatile period.