It's been slowly drifting like this since June. Months of lower highs and lower lows stair stepping back down along the trend line. For the exception of a similar dead cat bounce to the Walmart news when they announced Amazon, it's been slowly fading.
Some decided to chase the Walmart news, but for the most part traders took advantage of the bounce and got out.
In reality since there were no $2,000,000 in contracts, then naturally market will continue to correct to before when they 1st mentioned pre-orders -- Jan-Feb, but you have to also account for the extra billion shares that wasn't there at that time which would be an additional 15% haircut on top.
We'll see how deep those pockets are on the bid until November 15th.
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