I know that I sometimes get hung up on gaps too much but we are starting to see far too many of these gap up days lately. The "dumb money" i.e. emotional money tends to act in the first half hour of trading and the dumb money has been going parabolicly bullish lately according to this type of behavior. Sure, markets can go higher still but this type of move tends to be the "sugar rush" type which ultimately gets undone.
The put/call ratio is low so far but this can change on a dime as I've notice lately.
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