Bears Doing All the Heavy Lifting

Who needs bullsBears were caught in yet another short squeeze Monday night, inadvertently helping their taskmasters on Wall Street recoup all of the regular session’s moderate losses. The squeeze has not yet taken out the intraday high, which, as is nearly always the case these days, was achieved on thin volume before the opening bell. However, unless there is world-shaking news overnight to disturb the flow of Other People’s Money into shares, or to diminish seasonal mark-ups that are as much a tradition as Santa himself, the rally seems a good bet to continue.  For precise measure, we’ve been using a 2126.25 target for the E-Mini S&Ps.  That is where the futures have seemed headed since around mid-November, and that, we would warrant, is where they are going at a minimum.  If so, it would imply that a 300-point rally lies just ahead for the Dow Industrials.