From http://www.shortsqueeze.com/ The Short Indexâ¢ See how different levels of short interest in the market have been an indicator of upcoming upward and downward moves in the market! The Stock Market's Original Short Indexâ¢. The Index is updated every short interest release. A powerful, proprietary market index which tracks the concentrated levels of outstanding short interest that exist in the New York and NASDAQÂ®. The Short Indexâ¢ is historically graphed side-by-side correlating market performance (1999 - present). NOTE: Observe the market reactions when the Short Indexâ¢ falls above or below the green pivot line.