Maybe. This is a strong market but I have been saying for over a month that the market is screaming for consolidation. We need a big one to build sustainable growth from this point.
Notice how the biggest volume spikes have been on sell offs. Sometimes it takes more than a day to set things straight. We have been avoiding this for a long time.
Such corrections usually cause major portfolio adjustments which leave many old darlings behind. It is a healthy rotation that weeds out the bad investments and trading styles sapping strength from the market.