Call me persnickety, but I want to see yesterday’s short-squeeze hysteria go the extra mile before I wax enthusiastic over the rally, which appears to have been driven, perversely, by Spain’s near-death experience. Since we know that nothing has actually changed and that Europe’s crisis will end not with a solution but with smoldering wreckage, we can safely assume that celebration on Wall Street and the world’s other bourses will be short-lived.  Its singular goal is to distribute stock to the rubes, but we’ll nonetheless take from it according to our needs. The 480-minute chart shown needs a print at 1340.00 for starters, but until then I’d suggest scalping off the lesser charts from the long side.  Click here for a free trial subscription to Rick’s Picks, including access to the 24/7 chat room.