This is the part where the shorts get ground into meal....the slow and steady grind into higher prices. The bagholders are gone, sold out, capitulated on March 8th. Meanwhile many retail shorts were lured into the trap and will provide a steady stream of buyers going forward.
SI may be little changed or even higher but my contention is that the character of the short holders has changed from big-money, concentrated capital to small-money, fragmented capital. Note that it's coming into the lows of March 9th and March 8th on light volume compared to 1.76M and 7.45M, respectively. There's very few left to sell and if they can't take it down they will have to take it up.