I'm new to DPDW fwiw but I don't agree on the sell the news theory. It appears as you said someone has been selling past couple days and as price drops has been selling faster. IMO - the news started a slight bounce but then hit the selling resistance which stopped momo from rising on the news and pps just continued to slide as the selling continued followed by some panic sellers.
No reason to sell on today's news, it was good news and the pps was already down. IMO, something else is happening here large selling.
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