It feels scammy because Wall Street entered the game... note the professional trading algos that are intentionally targeting out key resistance points. There is a ton of market manipulation right now.
Wall Street entering the game is a good thing. "Scammy" feeling is your own pre-conceived judgements.
Professional trading algos are part of a modern market , get over it.
What you call "market manipulation" I call "normal market activity".
First, this is just a rude comment. Second, if they did what they did last night on Wall Street... even with how rarely people in Wall Street go to prison... they'd be in prison. They oversold on purpose to fool bots which isn't allowed. That's not trading. It's more akin to robbery.
Is it something that is here to stay? Sure. Is Wall Street entering a good thing? It's a thing. More potential money, but also more bulls---.
Professional trading algos, in general, are wonderful. Last night was sabotage.