Here's the Punchline: Tesla Hasn't Even Corrected Yet

Although it seems like the market is going down every day and simply must stop soon enough, leading to a spectacular short squeeze higher, the punchline may very well be that the likes of AAPL and TSLA, the latter below on its updated daily chart, are still nowhere close to testing their respective 200-day simple moving averages (yellow line on TSLA daily, below). 

While not an absolute necessity, it does seem like a high probability outcome that they test their 200-day m.a.'s, as both have earnings next week and may very well do so beforehand. Keep in mind that all major indices, the Dow, S&P, Nazzy, Russell, mid-caps, etc., are either just below or soundly below their 200-day m.a.'s as I write this. 

And, moreover, given AAPL and TSLA's sheer market size and weightings in various ETFs, etc., it would behoove all of us to watch them closely even if not directly trading them--We are talking many trillions in market cap at this point, and we are also taking about two of the most prominent "gamma squeeze" upside beneficiaries since March 2020. 

You wanted one-way moves higher, you got it. 

But here's the punchline--Shorts are extinct in these names, and the roadblocks to the downside when short-sellers would buy-to-cover (i.e. close out their shorts) have been removed thanks to the Fed's all-night booze-fest.

Good luck now expecting a reasonable, garden-variety pullback as, amazingly, many market pros seem to be saying this is all it is.