We discussed all week the impact of the S&P Futures Daily mid band test on Sunday night. The quick establishment of Daily mid-band support and the immediate concession of the weekly pivot (2195) by the Bears put the bulls at a major advantage all week. The 2199/2200 area was consistently defended early in the week and moves to that area were dips to buy long. The conversion of 2209 put pressure on the Bulls to convert the 2213.75 ATH. Yesterday morning the moves to 2213.75 became too frequent and the levy finally broke starting a news fueled short squeeze to a new all-time high of 2241.25. This puts the Daily chart in upper band ride mode. The band ride has already been achieved for today with the touch of the upper band in the overnight. Bulls need to continue to engage the lower band and preserve each prior day's low to continue that ride. The Bears have a lot to prove. Upper Band rides like every high yesterday afternoon look like great shorts until they forget to go down. Shorts need to see mid bands on shorter term time frames(5min) become consistent resistance before a short can really be in a position to pay. We are short term extended but not at all on the longer term - we touched daily mid band 4 sessions ago - that's called reloading for more upside.