SPDR S&P 500 (SPY)

[need luck]

you might be right, but institutional traders have very deep pockets, hard to squeeze them.
When it does happen we have a market meltdown as they are the real supporters. (then we will hear more QE to infinity and more bailout money needed)

If they settle daily at end of day, then their intraday influence for a selloff shouldn't be much I would think (they settled already so no pressure!).

The retail on the other hand are like sheep, good for fleecing and skinning and milking, and they do tend to move as planned and dictated by the central command, prone to fear and media influence - thanks CNBC.

The oil seems to have strong bid and if the market would bounce higher here I suspect the oil to shoot up as well, after all, it is more attractive than the bloated market.

So the central command might have approved a correction just to take the (hot) oil down, just a guess.