i say its just people with extra money and no experience chasing the hot stocks and the MM supporting it knowing they're gonna drop the entire thing. Stimulus money is pretty much all in the market right now so its about time to take it from the top. They did it in feburary and that was the start of the overall downtrend.
11/2 gaps across the board were put there on purpose in my opinion. but the market really has quite a ways it could drop. very reminiscent of the 2008 drop where we bumped for a year and then the oil bubble popped hard.
I took a hard look at bill gates' moves bc he's an f-ing genius:
his recent sells - 11 top name stocks. Baba, uber, amazon, google, apple, ect. trimmed by 50-100%. only bought 1 pharma stock.. besides that has been buying farm land like crazy. biggest owner of farmland in the country now. something to consider when the market crashes, critical commodities like food become the most valuable as their prices rise.