Tiresome as these mini-explosions have become, we can’t afford to ignore the possibility that one of them is going to trigger a real short squeeze. That could happen as early as today if a follow-through to yesterday’s wilding spree pushes the futures above 1103.00.  The accompanying chart shows how it would convert a garden-variety impulse leg into one with serious power.  From there it would take just another nine points to take out a third external peak, presumably greasing the path upward through week’s end. _______ UPDATE (10:40 a.m.):  Ha-ha, very funny. The futures head-faked their way to 1103.50 overnight and then dropped dead.  Go figure.  Perhaps, for our watchful vigil, a nursemaid is called for, not a technician?