Dude! Where's the Volume?

Price action yesterday was indicative of a continuation of the squeeze that started last week. We have one question though, where's the volume?

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Outlook:

Every short squeeze has the potential to turn into a counter trend rally, but over the past few months short squeezes have generally pried shares loose from the shorts only to reverse hard once again.

Given the lack of volume yesterday, one has to wonder if indeed this is to be the case yet again.

Start looking for short positions again if the SPY can rally two or three more points.