SPX (05/26/2020 - 05/27/2020) - Short squeezing and gap-up

FA
-Demand for oil came back steady as the economy is reopening.
-2nd round of stimulus check is still pending. However, there will be a high chance of approval (Trump's intention). Still, this stimulus package will cause more trouble than people thought.
youtube.com/watch?v=_2RINfXzmbM
-Tech stocks are likely FOMO-ly bought due to speculations about economy opening and working remotely. Demand for tech equipment, cloud-based server, online shopping, etc... is expected to be higher than calculated.
-Possibilities for Real Estate crash:
youtube.com/watch?v=vmpaFiTTZBA
-FED has scheduled overnight repo for Friday and Monday. Will likely a big gap-up tomorrow.
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
-Opening higher in both SPX and NDX can be explained by two reasons:
+Trust from the investor on FED: more people hold long positions over the weekend and will be buying as soon as the market open ( Friday closed higher even when we have 3 days of risk).
+Speculations on economy reopening.
However, it is still risky to start buying for the long term. Still, we can trade long in a short period.
Why? -volumes are respectively low- and -US 10Y treasury is still below 0.7%- are investor confidence indicators. The confidence has not yet recovered. So be aware of keeping long positions over this week. So take profits by trading long for the short-term.

TA
SPX is in squeeze: prepare for a huge movement: bullish
SPX is trading above all moving averages: very bullish.
SPX had many chances to drop, however, it went up which indicates the top hasn't been decided yet.
RSI: very bullish.

Bottom line: Trade long and don't hold overnight.

Good luck and have fun.