Intermarket and Sentiment analysis implies the recent consolidation can last longer amidst the short term ups and downs. Keep a little more cash in the bank. Consider utilities and telecom. Keep an eye on gold and silver which are consolidating.
Trump's tariffs on China might be good for the US on the longer term, but it brews uncertainty on how the economy or market will be affected today, until negotiations are resolved and business can digest and maneuver on the changes.