The simple answer is very simple. Technically, after the run to $51, we had a lot of short covering and then some traders reshorting. Hence the 9M covers with 4 to 5M new shorts resulting in the 4M less shorts positions on the last report. Note, my numbers might be a little off as I am not on my system that runs those reports on my database.
So, then we get a slow rise as yet again, longs don't want to sell. From a technical perspective the new shorts around $50 were just making a trade that made sense. That's the general range of the analysts, we had 2 months before earnings, etc.
Anyway, the technicals didn't work in their favor like they should have. The fall to longer term EMAs didn't occur. So now we are bouncing around short term EMAs. If you take that into account (short term EMAs), the PPS action makes sense.
Throw in a few attempts to tree shake and viola!
No one who attempts to predict the PPS right now will be right. Maybe lucky, but not right. All anyone can honestly say is there should be a rise into the expected good Q2 earnings.
I dont think anyone here can truly predict next week's price action. You'll get the full gamut of responses on this board ranging from short-squeeze tsunami predictions to the sky is falling. Only time will tell. Perhaps we'll just see more of the same sideways action with a slight trend upward until earnings. I know that isn't very helpful but it's all I got...