Vicious Post-Brexit Short Squeeze Continues

Bears looking for some relief will not likely get it on Friday. Seasonality alone would argue that the manic short-squeeze of the last three days will continue as traders approach the three-day Fourth of July weekend. Even more bullish is that at the apex of Thursday’s thrust, the E-Mini S&Ps exceeded a key peak recorded last week by a small but technically significant 1.00 point. That refreshed the bullish energy of the intraday charts, making any pullback from these levels a potential buying opportunity. Check out Friday’s E-Mini S&P tout for further details, including a ‘counterintuitive’ entry signal that tripped as we went to press. If you don’t subscribe, click here for a free two-week trial subscription. It that will give you instant access to all Rick’s Picks pages and features, including a 24/7 chat room that draws experienced traders from around the world.