The S&P 500 indeed opened higher on Friday. However the bears didn’t feel short squeeze at all. In fact channel breakout failed on the third hours of trading. New channel has been created due to the false breakout. For Monday the bulls will try another push heading to 1,230. The rally will eventually fail per my plan unless short squeeze kicks in. After the holiday, if Santa Rally (aka the January effect) appears, The S&P 500 will try to push up to 1,305?!? (do your own homework on how I get this target). The rally will eventually fail after facing the cruel reality.