1. Nasdaq is a leading indicator of the broad market. Currently, QQQQ is stronger than SPX. On MACD charts of QQQQ, the bullish cross is forming.
2.. Russell 2000 index is a small cap index, also serving as a leading indicator of the broad market. Currently, IWM is outperforming SPX.
3. Shanghai index has been in the correction mode since last August, During this 6-month correction, investors have been expectingthe tightness of the money supply. With raising interests twice in a row from China govn't, the market may view this as buying as all bad news out and may go up from here.
4. March-April usually serve as the best performing months of the year. Many people need to put money into their IRA account or 401k account before the tax season ends. With big money supply from millions of small investors, the market will only go up in these 2 months.
Prepare your long position, instead of shorting the market should be the first task in Feb.