With no oomph behind Monday night’s short squeeze, we never even came close to shorting 8272. The rally died in the wee hours at 8221; then the futures began their nasty, 350-point slide. They were wafting blithely higher again Tuessday night, but we shouldn’t read too much into it. A print at 8464 would change all that, creating a bullish impulse leg on the larger intraday charts (i.e., the 240-min), but anything less would be just noise.