Its not fundamentals (obviously) but neither is it manipiulation specifically designed to shake out small players.
There are people who really think that all economic concerns are over blown. They think that someone the problems will solve themsleves or become inconsequential. We have a word for those people in general - idiots. But still they exist in large number.
Never attribute to maliciousness that which is adequately explained by stupidity.
when every piece of news is negative overall, and the market churns it up, then yes, it is specifically a game to shake out the little guys. The little guy can only deal with so much pressure as he plays with the same money that he pays his bills worth. These money managers can hold this thing up until the modd shifts and the little guy has taken all he could, and then they send the crap back down. This is one of those cases where this is clear manipulation.
Best buy(leader of consumer reports) misses estimates by a wide margin, retail sales are clearly down, everything is going down, and the market is going up?