also, normally, you would not want to buy the day of a gap up, like we are going to see today. Most gaps are filled. It is when they can't be filled that it is meaningful.
For instance, soybeans will gap and you can use the gap to measure risk on a position you initiate. Betting, say, that the gap area will be inviolate....no entry at all. that would be strongest market. so, you would use a stop a little into the gap if you play this way.
today is a great day to see what has left gaps and may show future potential. buying high today could put you in a position to suffer a huge loss during the day if it reverses. To get the stocks up, the longs had to run MMM and V to hold the overall market up. this is somewhat of a red flag. small number of stocks holding up an average.
devil is in the details.
There are only a few big buyers who use the bots to "coordinate." There is no way they can exit their long position. they are all in. they must keep buying. the market rallying on lower volume is the float being soaked up and fewer shares to trade.
in the end, the long will try to dump his position on .gov..... watch and see.