Filling gaps I think, this decline has more to do with filling the gaps than anything else (including the stronger $C).
Ever since its quarterly release in March, this was gapping up big on one positive new news after another, for the next three months.
I believe now this is just a re-tracement of that and filling the gaps in between, and then the subsequent rally in September or thereafter at some point. Good opportunity to add to your core holding.
I also believe, we will see a new 52 week high before year ends. If and when this occurs, barring any new unpleasant surprises/catalysts- I believe, it is unlikely we will ever see the SP languishing at these low levels again.
Please do your own DD and invest accordingly as these are just my opinions.
GLTA.
Cheers