Seems like a low odds call - bears just had their shot and ended up drawn and quartered, we've seen total Fed capitulation with no clear bear catalyst in sight, we're very close to ATH which should lead to a follow-through move if broken, and there's all kinds of support below us but well above your <2700 target. I can see reasons to be long now and reasons to have recently exited longs and awaiting a pullback, can't see any reason to be short...
Too many are pushing for 3000 which I believe will happen right around earnings season. It has to. However keeping it up above 3000+ is going to take a many trillions of dollars of stock buy backs which I'm sure they are ready to push and create more air under this market!!
2940 is the world's cheapest short term call option. They will run those resting and day MIT and limit stop-buy orders first. Just my own guess - but that's the logical path of pain.
The foothold which underpinned its growth for 10 years returned, don't see a single reason for it to give up plans for extending the rally.
Why do I feel you guys have very large short positions and you are hoping for a huge selloff? Reminds me of the Dot Com bubble. There was this stock EMLX where I had 100 shares and sitting on huge profits. A guy managed to fake a press release and sent the stock tanking at the market open. Of course, most offices does not open till 8am or 9am. SEC contacts EMLX and the CEO and disavowed the bogus press release. EMLX starts trading again and it rockets up, wiping the shorts in the process. Those who panicked and sold lost their shirts. I held and did not panic. It turns out one guy was hemorraging and losing around $400,000 on his account and thought this was a good scam to recoup his losses. Well, he only got huge fines, jail time too on top of his huge losses for his troubles!