No, the market makers have been hiding trades from retail. After a seeming slow day with one .60 dive @ 12 pm and the one penny every 5 minute drip climb, many sold just happy to get even or a little gain. Then bam - up a buck in 5 minutes. Retail can't react and are cut out of large gains while the elites cash in. They are cutting retail out i.e. SEC PC & ESG positioning, threatening sanctions on companies and banks that continue to "fund" the fossil fuel and other "polluting" carbon industries.
There was no obvious reason for that spike, no news, no nothing. It will selloff in AH
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