You don't see this every day

The stock market has taken some interesting turns this week.  There have been three straight sessions where the S&P has gapped up.

The proverbial wisdom is that gaps want to be filled.  You see an example of that after the big gap down in that image.  The next candle after the gap occupies the gap.  That's typical.

The last three days, though, have been one gap up after another.  None of those gaps have been filled yet.  Not unheard of, but not common, either, especially when the gaps are with the overall trend rather than against it.

So what does it mean?  Beats me.  That last cross-shaped candle looks like it might be a turning point to the downside, and the 63 RSI supports that, but the MACD is about to cross over to the upside, too, and the price action bounced right off the 50-DMA support line, so the signals are conflicting.  When you can't figure out the technicals, then the best course of action is to either do nothing or look to the fundamentals for guidance.

I'm not an expert at this stuff.  I'll stay on the sideline for now.


UPDATE:  The latest gap filled today with the market's downward move.  This might be the start of a long-awaited correction or consolidation.  Things have been running hot for a long time.  A couple of months of treading water would be beneficial, I think.