Neutral/Negative Catalysts
- Technicals are stretched: RSI near 89 increases probability of a near-term pullback.
- Profitability pressure in latest reported quarter (net income/EPS down sharply YoY) could weigh on sentiment into earnings.
- Broader tape: S&P 500 down ~0.8% today, which can reduce risk appetite for smaller names.
- Options market activity is very thin today (volume 11), limiting confidence in the bullish put/call read.