Setup for later on

We've had a huge push up off the opening, and we continue to stair step higher here.  We saw some "piling in" early on, but that's since calmed down

Volume is coming in at a good pace, above yesterday's lame turnover, and the best in over a week (with the exception of OE day).  Breadth is strong at +2300 and gaining.

Whether this is a one day wonder, or just a dead rat bounce remains to be seen, and isn't relevant.  For now, fading this is dangerous.

The best scenario for the bulls here would be a pullback and consolidation over lunch and into the last hour. This would give the late comers a chance to get on board an afternoon breakout without having to chase.  It would also give the laggards of this move a chance to catch up.    

"Watching for a pullback" is certainly not enough to base a short on, and the bulls may decide to push the issue and not just let us drift lower, but this scenario if it plays out could be a nice opportunity for a trade later on.

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