It is often said that “all gaps get filled” That is simply not true, what about the gap in AMZN in January, or the gaps lower in many stocks which are still 60+% off their highs? Even in the SPY, we can see that it has taken a full year to come back to the scene of the gap lower from 110. Maybe this gap will get filled, it is working on it with yesterday’s push above 107.62 but does that mean you would have waited a year to trade the SPY? Of course not, focus on the short term trends which are clearly higher. Of note, but not reason for concern is the lower high the market seemed to have made intraday yesterday. If the SPY breks yesterday’s low it will add a lower high to that lower low which would put the short term trend lower, but with a rising 5DMA, short sales should be kept to daytrades.