Sell off???

I dont think this is the sell off we have been waiting for. its just not powerful enough on the downside. It seems to me the market is not made up of zillions of buyers and sellers but really just large dealers, goldmansucks etc... trading amongst themselves. Looking to entice the little guy, the retail investors, bringing them in only to set up the pump and dump routine. If the market is being manipulated by a relative few.. then will the normal, traditional technical analysis tools even work? At any rate.. the brief selloff this morning is now gone and the market is on the upside once again.