So powerful is tonight’s short squeeze in the index futures that it has pulled even bullion quotes higher. The August contact would reach 1653.10 if it were to fulfill its technical destiny (see inset), but the move so far seems to lack the psychotic vigor that has seized the Mini-S&Ps and -Dow. My hunch is that the 1604.75 midpoint — already breached to the upside — will look like resistance by Monday morning.
