This market is on fire: The S&P 500 ETF, SPY, has gapped up at the open on 69% of all trading days over the last 6 months, the highest percentage since 1997. This percentage has risen +20 points since the April low. This is also slightly higher than during the Dot-Com run in 1999. By comparison, the long-term average has been ~53%. Current bullish momentum is historic.(The Kobeissi Letter)