There was a massive sell off(consolidation) happening from Jun 20th until Jul 2 on the S&P. I know I made some profit off a buy position, but noticed that the trend continuation was taking incredibly long time to start, which is rare in a uptrend. This sell off was already in the works, not to mention sell structure that developed at the top. I wouldn't be so quick to say these things are random. Institutions with billions of dollars don't do things randomly. There was no black swan event this time. It was just time for the over bought market not only to correct but to actually reverse.
This is based on institutional theories or smart money of how price plays out in the chart. I have developing my theory for years using those principles(i.e Wycoff Methods[1]
This is based on institutional theories or smart money of how price plays out in the chart. I have developing my theory for years using those principles(i.e Wycoff Methods[1]
[1] https://chartschool.stockcharts.com/table-of-contents/market...