Short bets against US equities just hit a record. Record short interest → crowded trade Crowded trade → positive news hits harder Positive drift → forced covers Forced covers → price overshoots to new highs New highs → systematic buying and FOMO flows Systematic buying → late-stage squeeze Everyone is focused on AI risk. I’m focused on positioning risk. If the S&P clears recent highs, this turns into a pain trade. I’m watching that breakout level closely over the next few weeks. That’s when pressure accelerates. The crowd thinks they’re early. They’re fuel. Others want your clicks. I give you the sequence before it plays out. Follow me or stay late to the move 📈