Those that view the message of the market on daily basis are likely confused by trading noise. While trading noise contributes to the long-term trends, it does not define them. Human behavior tries to explain trading noise as a meaningful trend. This confuses the majority which, in turn, contributes to their role as bagholders of trend transitions.
NASDAQ 100 Daily Trend (chart 1)
Downside alignment
Weekly Trend (chart 2)
Upside Alignment
Monthly Trend (chart 3)
Upside Alignment
Conclusion
Downside alignment in the daily trend against secondary and primary upside alignment defines consolidation/cause building, not a decline to short.
Chart 1
Chart 2
Chart 3