I smell mania. That's a down-signal for me, because it only pays for bids until things go sideways for the first time.
We had almost 2 months of rallies. A step down wouldn't hurt. Another instant rally would take us back into bubble territory, and what's the point of that? Everybody has made this experience by now, it's unlikely to repeat itself.
I agree. We have gone from volume sustained rallies to middle of the night dumps.
I think the market is self correcting, realizing we are NOT going to break $7.20, not for a while anyway.