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Play Editor's Note: Monday did not go as planned. We stuck our neck out over the weekend suggesting Friday's bearish reversal would see some follow through this week. Instead a massive rally in the financials continued to lift the broader market. Just looking at today's action it would appear that the DJIA is headed for 12,500, the S&P 500 toward 1,370 and the NASDAQ Composite to 2,400. These levels are near last week's highs and should all be short-term resistance. Unfortunately, these are not going to be small moves and will be painful for the shorts. If the market breaks out past these levels then the short squeeze will really pick up speed!


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