The hedge funds, short funds, high frequency trading desks took to school the pumpers on this board that insisted a R/S would mean the big boys would push up the price. Since the R/S the stock is down 35%; without the R/S the stock would be up or at least even.
The only rule you need to know: institutional traders PAY THEMSELVES FIRST. Retail traders need to nibble around the edge.
I've never understood how technicals apply to headline driven stocks or commodities. Not saying your observation is wrong. But you can look at all the techie stuff you want on many trades and one bulletin comes out and you're done. Doesn't matter if it's crude oil or CYTK. JMHO
news, trumps everything, fundamentals to technical, but there is a general saying in the market, investors (fundamentalist) get in the beginning, techies drive market to the direction of the trend.. IMO, there are more techies than fundamentalist when it comes to short term trend.. so, if you are long on this.. you are on the wrong side.. specially we broke the 200 SMA and the low on Sept 3. Good luck..