Are we at the 2009 stage yet? I don't think anywhere near it. Please consider the chart below. If we are not near 2009 lows then the point of short squeezes is not relevant at present.
BBOZ smoke and mirrors. SNAS - check out the volume on those today. Not much volume on BBUS or BBOZ. Therefore the move is likely to start from the NASDAQ initially (which I have said is in catch up mode to push to the similar levels as its cohorts).
What do the technicals from 2008 period tell us? 200d MA broken - not quite there. Double bottom but only 19% down - tick. Higher recent high - tick. Would you dispute that the technicals of today are not dissimilar to 2008?
Does the 200d MA need to break - not really but it will get a lot of interest in the markets there. We have had ours break and what a strong second day this was. I would have thought more of a push with all the euphoria around.
Fundamentals and technicals IMO nearly confirm what is about to happen.
The 200d MA break from 2008 reversed on the same day. Maybe the controllers of the markets at the time thought we have suckered enough people in and then it started to plummet.
There is another 70 odd points before the 200d MA is broken. Will it reverse on the day again. Who knows (well someone does). So maybe we get a break of this level, and it encourages a plethora of sideline bulls to enter. If they buy enough stocks of what's being offered, then yes. Watch the volumes on those days around this period. (Having written this, the markets might push up 50-100 points up but until the main players have sold off enough stocks to their plan the markets will not reverse. Again, if the $8 billion of Puts are still in date, they require about 3 weeks to push the markets down and therefore those need to be in the money soon).
Maybe there is still enough money presently in the system to push it a little higher so they can reduce their holdings a little more. If the 200d MA doesn't hold then the markets will plummet.
(20min delay)