If you're bullish, from a price (841-860 in the shaded green waters of the chart below), you have to be loving the Shark Jumping that's going on out there again today.
Per Wikipedia, this is a picture of Fonzie as he "jumps over a shark while on water-skis. After seeing this, viewers considered that the show was getting really desperate for ideas and just lost its strength."
Make you think of all those super duper "smart" analysts who are short everything from UA to SBUX? At a point, they become desperate... and just have to cover.
We'll keep selling into their capitulation covers at Squeezy's red dotted line (883 in the SP500). Higher lows and higher highs remain as bullish as Fonzie's black leather.
Keith R. McCullough
Chief Executive Officer