Like crypto, US stock market is also showing an extremely bullish trend that it has been moving upside in a very tight range. This implies many shorts are being trapped at the moment. Expecting there will be larger movement to the upside the squeeze the weak hand out of the market now. But in case you haven't longed yet, make sure you size your position accordingly as this may not be the best spot for you to get really agressive.
Stay safe and healthy~