This feels like one of those classic ‘scratch your head’ rallies. Everybody has been so Chicken Little-ish of late, so I’m sure the bears were pressing their luck. Combine that with the fact that the Dow and S&P 500 are now back above their 50 day moving averages, the (expected) light volume ahead of the long weekend, and month-end mark up games and you’ve got one hell of a recipe for a short squeeze.
