Fork in the Road

I don't quite know what to do here. On the one hand, looking at weekly charts of the major averages I see what I think are lovely buying setups.

On the other hand, several major indexes and sectors have traded below the 50-day EMA, and now are weakly bouncing, which would indicate to me very good places to short.

So I guess I'll sit on my hands and watch.

I do have buy setups still in the QQQQ's, and XLE, plus many stocks.

But I also have lovely shorting setups developing in Real Estate, utilities, consumer stocks, transportation, and some other areas as well.

My best guess right now is that the markets are going to at least attempt a rally, but it might be torpedoed by interest rate worries.