It's called a Fibonacci correction. After too rapid a climb and overheating of technicals the correction was exploited by TA traders who track such charts which is now under attempted manipulation to further delay recovery and depress prices for re-entry and short covering. AVX- fears is just the excuse for price manipulation.
Too many over there were calling an Altzeimers drug a slam dunk, a sure thing. An Altzeimers drug with very modest Phase 2 results cannot be anything but a high risk binary play. As you said a month ago, this is not the same play. FUD
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