Most telling (to me) was the SPY 1-minute chart. With volume like that coming in a move was sure to follow.
Later on we also saw a volume spike at the Highs of the day (HOD), with a very low volume retracement to base at resistance, not giving up much at all. Volume then surged and voila, rally!Here's the Q's and the DIA, which both reflect the same story:
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Once we broke above 880 and 890 the short squeeze was on. I had the opportunity to see the markets battle at that area last Friday and it happened again on Monday I believe. Eventually resistance gave way and caught a ton of people short.
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