I would tend to agree if I saw the shorts depleted, but they're still on the way up and haven't dropped the way they would in a squeeze. Whatever the high of that squeeze is, I'm guessing 6800-7200 is likely where we start making our way down to the mid 5s.
Time will tell!
that is true..and we are at an important juncture..and that 6800 -7200 could be.!