Fast money & systematic sellers hit the structural bid

A clear shift in HF sentiment 

"There has been a clear shift in HF sentiment across the desk. Single-name short additions totaled $1.5-2bn last week, with Thursday marking the largest day of short additions in the last 3 months on MS books. Conversations across nearly all client types over the past two weeks settle on some sort of range bound to negative risk view at the Index level over the medium term" (Morgan Stanley)