There are many market indicators. My preference for long positions is the S&P 200 day simple moving average for long term market trends.
The 200 day average peaked on 5 August and went down 5 more consecutive sessions before going positive for 3 trading days - then down again for 6 sessions. It has whipsawed back and forth a few times since 5 August, causing many traders and investors to move in and out of positions. Most recently the 200 day moving average turned negative 19 September and has been down 9 consecutive sessions. Friday will be 10.
I believe this is the start of the next Bear Market. The last time the S&P 200 day moving average turned negative happened was February 2008, and it did not turn positive until July 2009. We all know what happened in there, nothing was safe.
As Marty Zweig would Preach - for those of you old enough to know who he was, "You can't fight the tape!" When the market is in a downtrend almost everything goes down with it.
Time to exit long positions (and get some sleep) until there is a clear sign of an upward move of the S&P 200 day simple moving average. Relax and wait, last time it took 18 months.
Disclosures : Exited long positions for cash and bond funds.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.