True it ran up yesterday, but today was the breakout that the majority waited on and got long.ES ran up yesterday and pre market today, in anticipation, almost 100 points combined.
Some no doubt took profit, but every move has profit (and loss) taking.
But a complete reversal, especially Nasdaq that was up I believe 4%+, was not predominantly from profit taking IMO.
It was CPI last month in reverse, many caught on the wrong side.