My observation: the longer it takes on "gap and go" days (with certain characteristics) to trade up to a few multiples of the early morning's move, the more likely the market will continue trending directly into the close. If it gets there before noon, probably there will be a retrace later in the day. If it behaves like today, straight through the close give or take. Barring a volume blow off where the second push to new highs is on lower vol than the previous.
Very good. But finding those "certain characteristics" is a bitch. But don't hold past the close. It's a sucker play.
Ah, there are ways to identify in the first 10-15 min if there is some probability of those certain characteristics. Good call on not holding past the close -- never tried. Someone I've been looking into is Mark Fisher (and I never follow any person's "method", but something about what he does makes sense to me). One potential overnight long occurs when price trades down a certain extent early then rapidly rallies to significant highs late in the day, trapping shorts. Never framed things that way myself, but it's worth studying to me.