The institutions have suckered in a lot of traders since the March low on the S&P.
The chart pattern indicates that institutions are taking profits and may plan on pinning small traders as the greatest fool left holding the bag.
This shows up on the charts as resistance.
What is resistance?
Duh! Resistance is the level that institutions are selling and taking profits. Remember, 70% of the market action on any given day is from institutions and hedge funds (I consider hedge funds as institutional traders as well).
The question is, is this a consolidation pause before the next leg up, or is this the pause that reverses the market back towards the lows and wipes out small traders?
I have said for some time that I was not that confident in this rally. The reason is that our long-term “Trade Triangle” remains in a negative mode. In the video below, I outline the key areas that I believe will shape this market in the coming weeks and months.
I’m also going to give you a secret concept of guerilla traders that has been around for a while, but one that you might not be aware of.
Some investors may be piling into this market with all their money, but we guerilla traders need to be prepared as we may see another dive.
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