Some longer term perspective that I found interesting -- not that I knowhow to use it other than keeping it in mind! Lol.

Attention, Stock-Market Bulls! Don't Miss The Forest For The Trees!

Henry Blodget, Business Insider Apr. 1, 2014, 7:03 AM

… observing that stocks are expensive tells you little about what stocks are going to do next — expensive markets can stay expensive. So it's also helpful to think about what might cause an expensive market to get less expensive (a.k.a., a "catalyst").

… there are two potential catalysts that might cause our current expensive market to get less expensive:
1) A decline in profit margins from today's record-high levels, and
2) A change in the direction of Fed policy from easing to tightening

Stock Market When Fed Is Tightening - Business Insider