To gain an edge, this is what you need to know now.
Short Squeezes
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows the momo gurus’ attempt to run up stocks by aggressively persuading the momo crowd to buy the dip.
- S&P 500 level of 4300 is the magnet for momo gurus. S&P 500 futures are trading at 4281 as of this writing.
- The reason the momo crowd’s aggressive buying is not succeeding in running up the stock market is that the bears are taking a stand and selling.