Stocks Soar On Massive Squeeze As Post-Fed Shorts Slaughtered

With stocks plunging overnight, and high momentum leaders such as bitcoin crashing just a few hours earlier as narrative went full "doom and gloom" over the imminent government shutdown coupled with fears that CTAs could sell billions in stocks today, the reversal in market sentiment and direction has shocked traders, as spoos are now nearly 200 points higher from session lows.

So what's behind this remarkable meltup?