S&P short-squeeze still in play.
The 6620 target I broached here two weeks ago with the September E-Mini S&Ps trading more than a hundred points lower was hit and exceeded by 19 points. That means that the short-squeeze that has been driving the bull market hard since April has higher to go. Stay long until the little hoax (basis the December contract), currently trading for around 6657.00, hits 6805.75, which it will. You can short there aggressively if you have profits from the ride higher to cushion your stop. More immediately, expect the so-far weak selloff from yesterday’s 6696.75 high to reverse from either 6620.75, or 6544.75 if any lower.
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