This high of $177.51 in the market has been hit each of the last two days. Each time it has hit this level, major selling pressure has come in as institutions the markets down. This is classic distribution and a warning sign to all average investors who are looking to buy the market in this range. Please note the chart below.
When all is said and done this tells investors that unless the market can close above that high of $177.51, downside should be favored. Ultimately, if the institutions are dumping, be wary.
Chief Market Strategist