Wednesday could be a big up day for a few reasons:
- Friday is the dividend pay date. Most people, institutions, insiders, take the cash rather than auto buy new shares. But there are enough people that do re-invest the dividend. Maybe enough for 30K-40k shares of auto buying. The day that this would be done is Wednesday using the T+3 rule; shares need to be settled to be deposited into your account
- It's the day before earnings. It's probably known by enough people that things are good. You might get some buying ahead of earnings.
- Shorts aren't going to initiate new shorts before the news; too risky if things are blow out.
- the buying may cause margin calls on some of the shorts causing more auto buying.
- lack of shares for sale at any price coupled with buying and no selling could propel this nicely.