GW - I don't think this is due to a certain knowledge of pending news.  This is what they have been trying to do for the last few days but has not yet worked.  As Coco said, this is capitualtion, which is what I like to look for when I am buying.

Once the players get filled they will let it stay rangebound until there is some news.

I have not yet reached my entry point as I think we still have some more down to go before she turns.

To all - this is technical trading activity and does not signal pending doom.  In many cases this happens just at the bottom. I am adding soon to my position.