in this scenario, we notice a divergence in the index between the Hedge funds and the Retail traders. This provides the incentive to move price against the retail traders who usually react to chart movements. The hedge fund may eventually move price down but there's still room for one more push to the upside to previous month's high at 1611 levels. The sell orders of retail traders may have been triggered on Tuesday. This presents the perfect set up for stop hunts.
"Most traders focus on the charts instead of the buying and selling of the people who move the charts."