Theory or reality? here's what maybe going on, the fed. is trapped and so are the big guys, without the fed. liquidity dries up, without liquidity in massive amounts the buy orders dry up, without buy orders. the big boys can't pass on their large block share holdings to anyone else. So... are they stuck in their own #$%$? i ask you.
P.S. That's why the market consolidates but don't go down that much - big boys know the FED can't get out. As long as the banks don't lend money, the economy can't improve which means the paper gains via the direct dealer market remain intact.
Bingo! which means QE EXPANSION not taper which is why Syria is so suddenly important. Not enough bang for the buck so far in terms of the economy. They think they can double down and it will work but the problem is they are splitting 6's.