Clearly we are gonna have a nice gap up, remember your 15/20 min gap rule.  If the gap holds it could be one of those 'Trend Days' that I've discussed so many times with examples before' where price holds up all or most of the day, however the gap up is pretty large already.

If it is a trend day, how they typically behave is:  You get a large gap up, however price still runs higher for the first hr or so, then price consolidates sideways and slightly down until around 1:00, thus allowing the MACD to recycle back to zero and for the 60 Stochastic to remain above 80%, then you get another rally in the afternoon to a new highs.  The strategy on these days is not to short, but focus on individual stocks, or buy dips on ES during the day