Well. Interesting theory. What if the rounding top happening with the XLF will precipitate GME to the moon? Or visa versa?
An outside event that causes a desperate need for capital could cause hedge funds to liquidate short positions. Or perhaps a reversal from the feds to QE from QT because we're at risk of a recession, signaling cheap capital is coming and causing the demand to ratchet up the price.
No opinion; just thought it was an interesting correlation.