Looking at a monthly chart for the past major 2 corrections, one can see that there were some indicators on a macro level already. The ones who took precautions made it out the best On a monthly chart all, RSI, CCI, and MACD had a correction looming - RSI and CCI had a trend line squeezing it to the top, and once close to be broken + being on high levels, some could already bail out. MACD is on all time high and ready to roll over.
Currently all indicators are on tops, and have a whole lot to go down to. For each previous corrections the road down was sharp for the indicators on the monthly chart, and it may be different this time. But once the supports (red lines) are broken, i would seriously consider getting on the sidelines (partially, i already am). I also monitor Williams VIx indicator provided by Chris Moody that i found a useful addition for cases of doubt. Also i check MA cross signals for additional info.
Basically, be on alert, watchout, and have an exit plan ready.
Currently all indicators are on tops, and have a whole lot to go down to. For each previous corrections the road down was sharp for the indicators on the monthly chart, and it may be different this time. But once the supports (red lines) are broken, i would seriously consider getting on the sidelines (partially, i already am). I also monitor Williams VIx indicator provided by Chris Moody that i found a useful addition for cases of doubt. Also i check MA cross signals for additional info.
Basically, be on alert, watchout, and have an exit plan ready.