[Index Alert] The SP500 continues to drag in the sellers to fuel continuation higher

SP500 Index

Index : SP500 Index

Current Price : 2439

Status : On watch for further short squeeze

The SP500 short squeeze is looking set to make a few more sellers unhappy. We can see a higher low holding at 2418 with price pushing back to the highs at 2440. With sellers still loaded up to outweigh buyers, we expect to see some strong moves in the coming days. Price is extended into the highs so we may see a pullback to build a higher low above 2418 and then the squeeze to re-establish.



We originally alerted the SP500 for a short squeeze on the 9th (alert below) and have continued to follow price action along the way. The action has been textbook as retail traders look to anticipate a drop and then are met with a wave of buying.

Index : SP500 Index

Current Price : 2293

Status : On watch for buy entry setup

The SP500 looks poised to squeeze out all the short sellers and push higher. We can see that price has potentially washed out support at 2287 and holding a higher low at 2291. We now need to see a push up through 2295 and higher lows to build for the buy entry setup. If price pushes down below 2291, then we will re-assess the trade. Lets watch the price action and see if sellers are put under pressure and the markets guns for 2300.