A quick glance at the stock market – particularly big-tech – and once can quickly discern that “something’s up.” Every dip is met by a wall of buying, ramping the market ever higher, and ever more ignorant of the increasingly uncertain world around it.
Why? Simple… it’s a massive, unprecedented short-squeeze…
The “most shorted” stocks in America are up 20% in the last two months, almost incessantly.
While the chart above is ridiculous enough, it turns out that this is actually accelerating and is now the great short-squeeze in the history of the data…
The ‘Relative Strength Index’ of the “most shorted” stocks has never been higher and each time it has reached this level, stocks have fallen hard.
But as a reminder – amid all of this – The Dow is down for the 7th day in a row, its longest losing streak in 18 months.