Maybe they see these buy orders and it discourages them from pouncing. I don't know as I'm on the outside looking in but there has to be something holding the bears at bay and it sure wasn't price action. Not in the beginning of the week @ least. Below is a 5 day 1 hour chart of the $comp:
Where once people sold shares to get flat for the weekend people now cover shorts to get flat for the weekend.
No matter what bearish things you hear about this market it's just talk until people put money where their sentiment is it's all just talk.