Didn't surprise me that much, the dropping volume, slowing down-trend and huge spread all pointed to a reversal. You're completely right, though, there was a "trend trumps fundamentals" sentiment before. I find it amazing that everyone's expecting the next factor of 10 leg up straight away, though. We'll probably pop up to 700-800 pretty soon, but after that I imagine we'll have a month or two of people cashing out once they've broken even before it does anything interesting.