Something very strange is happening on large caps lately...

First I need to make it clear... I'm no perma-bear trader who desperately tries to find the market tops for years... On the opposite I was yelling at 'end of the world' traders who shorted SPX at 1800 as I was calling it !
Anyway It's just that I have problems buying the current market prices and moreover understanding what the hell is going on with major US equities. I wonder who the hell is trading these prices actually !
Those who have seen my ideas know that I'm still bullish in the long term run for at least a few months/years so I'm not talking about the "big short" here !
It's just that we have bullish rallyes comming out of nowhere, that clearly seemed to be algorithmically driven ! And on the other side, even though everything is already pricing the best possible scenario for big caps... we see small caps struggling.. other assets moving, some with harsh volatility.. and yet I hear headlines talking about "Sell-off" in wallstreet when we just make a -1,5% session !

So that's why I'm asking the question.. What the hell is going on with large caps ?
This clearly isn't normal... so the second question is ... what could this situation end up to ?
So far I see two options...

• A massive bear gap followed by strong reversal to retrace back to major supports approximately 10% lower (see the idea I've shared about possible island reversal on AAPL..)
  
• A bear trap followed by a massive vertical rally that would most likely end up with a bubble burst like we haven't seen before (remember that we're now faaaaar more in debt than 2008... and that almost half of the recover since then is due to credit asset purchase... so this is first time ever and of course the correction will be first time ever as well !)