Nasdaq / S&P - at cross roads

Just taking Nasdaq's chart for discussion (similar for S&P) . We could be on the cusp of breaking down from the regressive channel with a bear pennant in the making. However, there is also a bullish divergence that is still valid for the time being. Both are conflicting signals so I'll stay on the sidelines until I see a clearer picture. If holding on to longs, best to do some hedging..

Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.