"Mind you the day is young, and we are going to get a reaction from this run."
Correct, they had to do this to set HoD resistance above 1305 - 1308 support level. Otherwise it would have been a hefty obstacle for later in the day.
For now, gap is filled and down we go. MSFT in the red makes me suspect this ramp has failed big time, but high P/C keeping me from taking additional shorts.