Here's another spin on my chart above except with monthly candles and a 9 EMA, that's worked reliably for the last 20+ years. Since most of you here are long term players this should help cut out the chaff and figure out when to buy, and when to trim your gains.
Why would you do this you ask? Well, to get a substantially better return and to save your ammo for more certain times.
When the monthly close is below the line, trim gains, do not buy.
When it's above, buy.
There were a few instances where it faked out but in general it works astoundingly well enough. If you followed this chart it kept you out of 2 crashes (maybe 3 soon) and in for the bulk of the uptrends.
So while today was a very red day and tempting to buy, the main idea in determining whether or not is to step back and see the bigger picture first.