The good news for the bears is that buydonthold.com has withdrawn its buy signal over the weekend after only 4 days, reverting to neutral. Mean while the sell signal on $BPCOMPQ survived the crossed over, thanks to last Friday's selloff. I still suspect sideways consolidation, even though the bears now have volume on their side. When the signal flip flops, you either eat the losses in both directions in order to stay in the game, or you can stay in cash until the market shows its hand and lose the initial move. It's your decision.
If sideways is indeed the course for the next few weeks, then mean reversion day trades are in order and volatility plays on VXX, TVIX, etc would probably be tough. I'd avoid any aggressive swing trades right now.