Whenever flashing red or yellow signals are used, they shall require obedience by vehicular traffic as follows:
(1) Flashing red, which is a stop signal, means when a red lens is illuminated by rapid intermittent flashes, drivers of vehicles shall stop before entering the nearest crosswalk at an intersection or at a limit line when marked, and the right to proceed shall be subject to the rules applicable after making a stop at a stop sign; and
(2) Flashing yellow, which is a caution signal, means when a yellow lens is illuminated with rapid intermittent flashes, drivers of vehicles may proceed through the intersection or past the signal only with caution.