Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Thursday, January 10, 2013

SPY Short Squeeze

Stock Market Technical Analysis Blog

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In the market today they decided to apply the pressure on the shorts and succeeded in a powerful short squeeze taking the S&P 500 to its September high which is also a five year closing high for the S&P 500.  As determined as they are to get this market as high as possible before an ugly earnings season and the real fiscal cliff battle in February it would not be surprising to see them break it above the September highs before they are done.  Nonetheless, it probably won't be long before some of the bulls start cashing in on the seven-week run.


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