Neutral/Negative Catalysts
- Institutional behavior: hedge funds are selling, with selling amount up 753.58% over the last quarter (a notable near-term headwind).
- Short-term price/level weakness: trading below pivot (116.32) indicates near-term control is not fully with buyers yet.
- Momentum cooling: MACD remains positive but is contracting, implying the uptrend may consolidate before the next leg higher.
- Some caution in outlook modeling: at least one note flagged a "light implied" Q4 (even if explained by pull-forward into Q3).