Are shorts going parabolic?
This leads me to believe we could be seeing a massive short squeeze in the coming weeks, similar to what we saw back in April. I'm still seeing downside to 5800 as a high probability. Possibly lower to 4000 if 5800 breaks with no bounce, in which case it would be likely for July and August to be bearish...though if we keep adding shorts at this rate, it might make it tough to go much lower than 5000 regardless of support levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.