In my opinion, the mms are going to take their profits and are not looking to hold over the weekend. Too many unknowns: the economy, North Korea, GM, etc. Best to book your profits at or near highs of the day.
I'm beginning to think that the market rolling over on Monday is too predictable. I'm hurting from playing the downside - got too aggressive with that plan a few weeks ago. I expect the indexes will rise above previous resistence, create a big short squeeze ralley, and then the market will tank.
I don't see a short squeeze rally because goog has shot up from 390 on Monday to today's high, a 26 point gain. The shorts that played at 390 to 410 either covered or are staying, thinking it will drop back below their entry point. Those who entered today are clearly not covering, thinking it will close at or near yesterday's close. Too much run up too soon for real shorts to capitulate to today's highs. I don't see goog running up above today's highs in the near future.