I am not into Technical Analysis, nor do I care to be. My financial thesis is based off of valuations and statistics. Timing the daily or weekly movement is not something I am equipped to do. This means that although I believe the direction of the indexes will go down this year, I do not know what path it will take to get there or how long it will take.
If I had any long positions, I would use short term rallies to sell and move into fixed income. That is me. This market is not honest and the rules are changing daily. I am not a certified financial guy and nothing on this blog should be considered investment advice. Do your own homework.
I do have a lot of respect for those that do Technical Analysis. I just don’t have the constitution for it. Every now and then I find myself following the TA guys and getting nervous about some rally. Then I remind myself that I am not out to make money today, this week or even this month. My thesis may take months or a year to unfold. And when new macro-level data appears, I can alter that thesis.