All major index are near major resistance (200MA, 38.2% FIB etc). With the recent rout in Treasuries, if the market turns town from here, it will be the next big leg down. So it is extremely critic to break out above the resistance so that the market psychology is changed to a definitive Bull which will squeeze all the shorts and bring in huge amount of sideline money. Futures are now above 200MA. S&P500 is expected to break 200MA next monday. So if PPT indeed exists, this is the best time it can intervene with relatively small amount of money.
Another possibility is that a major play (like a hedge fund) was forced to close its significant shorts, for some reason. We will know more if this is the case in the coming days.
