How we trade needs to be a function of the type of market we're seeing.  Updating our perspectives each day--and sometimes within the day--allows us to trade flexibly and knowledgably.

I'm not sure the current 'tide' is finished going out, as they say, as we looked for in the mega-caps. However that's not to say the 'tide' doesn't move in 'waves', which means you can get rebounds even if low tide is in the future for those stocks.

The most important market that is yet to show evidence of declining liquidity is the one that is being supported to the greatest extent by passive money flows: the US stock market as represented by the SPX.