The recovery is maxed out for now. It's going to take at least a day to consolidate and break $520 if not longer.
The market is far from rational right now. I doubt this will be our last time going past $500 again. The fact that this recovery is occurring at super speed is shocking.
So let's see.
The last 2 weeks since the stop of btc withdrawals of gox the price went down slowly every day. Because of the uncertainty. This is now gone. If Gox really hast lost 750 000btc, this has to directions. 1. People have the fear to lose their btc and sell and get all money out of the exchanges. -> down 2. People only watch the exchanges closly and hey, there are 1/12 less btc, the supply is lower with same demand -> up.