Yes of course the PPT exists, it is well documented. However, they are not responsible for every little rally as so many here seem to believe. Markets "breathe", that is they never proceed directly to their destination in a straight line. The rally from Oct. 02 is just a larger scale manifestation of this phenomena. Large bear markets have large bear market rallies or CORRECTIONS. Appears that the Nasdaq, Semis, Tech, topped in January and have resumed their larger downtrends with the blue chips soon to follow. Still the coming decline will have rallies that you will unable to "explain" because that is how markets move.