The markets were glowering with menace Tuesday night, threatening to extend a brutal short squeeze for a third straight day — all because the EU has gotten a reprieve from Frexit.  Marine LePen, the ‘Trump candidate,’ may lose the runoff election on May 7, but it’s hard to imagine France, or Europe as a whole, faring much better with Macron at the helm. Under the circumstances, we should want to fade the rally. But at what level? My current target for the E-Mini S&Ps at 2439.00 leaves room for more upside, but I’d recommend that bears stay out of the way until the June contract gets there.