The short term indicators are currently triggering double buy signals.
Focusing on the two indicators at the bottom of the chart, the green circles highlight such short term buy signals in the past for the McCellan indicator (NYMO - yellow line) moving below the lower de-trended Bollinger Band extreme line, while the blue circles and arrows highlight the VIX (white line) moving across the upper Bollinger Band extreme line.
The VIX signals short trade entry and exit, with the current stance exit shorts and go long.
The McCellan signals long trades, with the current stance exit shorts and enter longs.
The red arrow highlights the last time we got both triggering buy signals at the same time.
Kevin Wilde, Chief Trading Strategist, Alphaking.com
Disclosure: I am long QLD.