Sometimes there are too many conspiracy theories, or too much emphasis put on fundamental / political reasons, rather than seeing what is actually happening. Yesterday we had a shake out day, fine, on its own it means nothing, but add it to where we are, where we have been, and where we opened today in the US, and the fact we have major data out Friday means we have a high probability play to the highs over the next few days, with all time highs in play for next week.
How does this help short term - well any shorts pm session will need to be respected as they are on borrowed time, and you don't want to give back on the trade. Longs can be more patient, as there will be ample opportunities available.
The big players whom influence the markets tend to work their positions in 3 to 10 day cycles. Some cycles are clearer than others, but most do offer multiple opportunities either way.