Could there be a squeeze?

HF short covering accelerated into early February, but short additions have been quite persistent since mid-February. I.e., we’ve seen little evidence of broad short covering in the second half of March, aside from some ETF covering. Thus, if recession fears continue to wane and broader markets rally, there are multiple reasons why it seems shorts are set up for a potential squeeze: 1. The 4wk short flows once again hit a peak of >2z in mid-Mar, but are still at >1z (vs. troughs of -1.5 to -2.5z) 2. Short additions in High SI stocks reached a level and duration that is on par with other turning points 3. “Risky” factors fell back to Dec 2022 lows and have not participated in the recent rally (so could be due for a catch-up)