A Thought on Monday’s Big Stock Rally

Monday’s stock market action had all the hallmarks of a short squeeze: big price move, low volume, high level of open short interest. That’s not to say we won’t build on it and get a tradeable short term rally, but I remain suspicious. Still looking for a break above 1225 on the SPX with volume. We are very close to that level, so we’ll find out soon enough.

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