I’m a bit pressed for time this morning so no new research. The large gap up does put us in a situation I’ve discussed a number of times before, though. See these old posts:

https://quantifiableedges.blogspot.com/2009/04/large-gaps-after-market-has-already.html

https://quantifiableedges.blogspot.com/2009/04/gaps-up-from-10-day-highs.html

https://quantifiableedges.blogspot.com/2010/06/large-gap-up-from-high-level.html

You’ll note they all suggest a downside edge from open to close on the day of the gap. I also noticed Scott Andrews of Master the Gap posted research along these lines in his video last night. His results were confirming of mine. Below is a link to that:

https://www.masterthegap.com/public/Gap_Trading_Video_Small_and_mixed_gaps_after_a_large_unfilled_up_gap_plus_research_on_fading_gaps_that_follow_a_close_that_is_35_higher_than_the_close_of_2_days_prior.cfm