Market at resistance, but...

Market at resistance but MACD is about to cross. Since the completion of A-B-C corrective pattern, this market doesn't give people any chance to rebuild position. 

This is exactly why we cannot sell into panic. This type of market make people who cannot sit very under perform. Some who went short got burned one more time. And even more under perform. In last week's AAII sentiment, there were more than 40% bears. This week it reduced to 27%. This tells us that individual investors are not getting smarter. They are making same mistakes over and over.

We should learn this type of lesson more than 10 times now. 

Trade around core position and add protection once market is too extended and negative diverging shows is the key today.

I think that if there is no more news coming from Russia, market could retest new highs. But mid-term election is coming. So it could have similar pattern as we saw from Feb to Apr. However, small cap didn't outperform S&P. It shows investors are not willing to take much risk yet. It is not a bad idea to take some profit (assume you bought last week) here. Once new high is in hand, protection needs to be added again.