The short squeeze begun on Monday picked up momentum on day two, strongly implying the rally will run for at least another day or two. There’s one ‘Hidden Pivot’ impediment 2378 in the way, but I’ve suggested in my latest update to the E-Mini S&P tout that traders not count on it too heavily to reverse the tide. Under the circumstances, it would not be premature to focus on a 2439 rally target that lies 85 points above. If it’s reached, the move would equate to a nearly 800-point rally in the Dow.
