Gap at the open

It looks like the market is going to gap up this morning. I'm still planning to stay out. That gap up in November (blue arrow) still bothers me because the market often "fills the gap" meaning it drops back down and covers the hole that the gap created.

There is the possibility that the bears are done and the Christmas rally will finally take hold. Things are very oversold right now, but there still doesn't seem to be a real catalyst to move the market higher for more than a few days. Until there is, I'm going to watch from afar.