PPT?

The Plunge Protection Team in action? It's hard to say, but there was a coordinated push around 2:30 p.m. with volume straight out in the open. We didn't see any divergences suggesting a move of this magnitude (in a parabolic sense) and that is why we are seeing volume out in the wide open. When traders see volume like that they assume it's a smart money move, but smart money moves are quiet accumulation, the positive divergences we see into a down trending or lateral market. Someone is trying to give the impression of instituitional buying. You can see their original volume surges and now the mrket is coasting on retail traders chasing the volume spike.

Remember, the market is near a very critical point and someone for some reason is giving the impression of defense of the support levels.

 DIA

 QQQQ

SPY

 DIA

 QQQQ

SPY

As you can see, 3C is not confirming the move up as volume is not, it looks like an initial kick start that isn't supported beyond that, but they could come in at some point with another volume surge. If not, then I'd like to see how the 5 min chart develops in a bit when it catches up.