The 726.25 downside target is still valid, but if Friday’s short-squeeze gets second wind, pushing the futures above 838.50, bears had best put it out of mind. Consider Squeeze II under way if a booster-stage rally of at least 16 points erupts from somewhere not far below 789.40. _______ UPDATE: Squeeze II triggered in the orthodox manner anticipated above, producing an overnight waft that pointed toward 849.25, a Hidden Pivot. This number was posted in the chat room this morning with the futures trading in the low 830s. It can serve as a minimum upside objective for the near term.