Short interest numbers are out today. 2.3 million shorts as compared to 1.7 million last month. We can expect a large short squeeze as soon as any positive news is released.
"When we see a buildup in short interest, that provides a base for those shorts to eventually cover, driving prices higher. Therefore, high short interest ratios tend to be bullish. Conversely, low short interest ratios mean that traders are optimistic about the long-term prospects of the market, and have decreased their short holdings. This robs the market of a potential short-covering base, and tends to be bearish."