Bears shouldn’t get their hopes too high over this, but it is a fact that yesterday’s short-squeeze failed to clear a series of peaks along the “wall” of last week’s decline. This hints that the buying was too gutless to take on any more than the low hurdles posed by a couple of modest highs made on Thursday and Friday. A bullying rally is what it was, and although we won’t hazard a prediction as to where it will end, our hunch is that it will end badly.  Meanwhile, on the hourly chart a case could be made for a follow-through to as  high as 942.25 (A=862.25, May 1).  It is also worth noting that yesterday’s high, 908.75, coincided to-the-tick with that target’s sibling midpoint.