"By the way, the futures are moving in lock-step with Europes trading. Extended hours trading was mostly down here all week. The gaps up weren't until Europe opened. Call it manipulation or whatever you want but the Europeans are the ones running the market right now."
Don't know why it is happening the way it is happening but I can tell you that the huge move we had from last summer to early this summer was done while there was a huge amount of distribution in the market.