That's a fair point, but does sentiment come before trend (or price), or does trend come before sentiment? I would think it's the latter, since I've yet to meet anyone who formed a positive sentiment in a full-fledged bear market. So I believe price leads market sentiment and thus everything is already baked into price.
As for opposite trends in different time frames, they will eventually line up if you wait long enough. After all, a longer time frame is nothing but a collection of shorter TFs.
But going back to your original remark, aren't you curious why the market didn't sell off when the Fed raised the interest rates twice in the last two months but decided to selloff yesterday? It's because it came up to the major trendline and, no, this isn't some conspiracy laced coincidence. I'm pretty sure if the trendline was farther up, the market would have come up with some creative BS to resist a selloff until it reached that price level. That's why I don't believe financial pundits. What ultimately plays out in the end is not what they say, but how the chart lines up with important price markers like support/resistance or trendlines (as you can see below).
