Intraday Update

1:33 p.m. ET Further U.S. Dollar weakness (-1.05%) and continued/accelerated short covering are driving gains. The averages are trading fairly lock-step with the decline in yields (inversely). SP-500 +1.1%, Dow +0.8% (Transports +1.55%), NASDAQ-100 +1.2%, Small Caps +2.8% This short squeeze is remarkable to say the least. IWM (5m) and my Most Shorted Index. If…