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Papertigger - I suspect that prior to the pour a lot of recent buyers at the time thought there was at least a small chance that the announcement would cause a jump in price on much higher volume, or at least a bottom on large volume. When this didn't happen they sold.

But look at the mothly chart over the last 10 months:

So far June's large black candle is over 50% smaller in volume than the next lowest volume month (April).

That, I think, puts the current SP into some sort of perspective for patient longer term holders.