I do not believe this upside is caused by short covering at all. Sideline money got in since last Monday. If more money pour into market, SPX1200 is truly not a dream.
I all in when spx dropped to 760 because I just could not believe SPX could be 12 years-low since people have so much more money now than 12 years ago(at least most people's salary are almost doubled compared to 97).
But I tried to trade the market.