Easily a song about a bad breakup. He's lamenting on what was and what might have been. The "Graduation Day" refers to the fact that he's moving on from their relationship.
What happens at a graduation? People move on. HS graduates go on to college, college graduates go on to the work force, people distances themselves from what and wherever their previous life was.
That's what's happening here. He's "graduating" from the life he had with the person the song's about and moving on. However, like at a real graduation, you still think of the previous good times you had which is where he is right now. At the crossroad between the broken up relationship and moving on to something (or someone) new.
Easily a song about a bad breakup. He's lamenting on what was and what might have been. The "Graduation Day" refers to the fact that he's moving on from their relationship.
What happens at a graduation? People move on. HS graduates go on to college, college graduates go on to the work force, people distances themselves from what and wherever their previous life was.
That's what's happening here. He's "graduating" from the life he had with the person the song's about and moving on. However, like at a real graduation, you still think of the previous good times you had which is where he is right now. At the crossroad between the broken up relationship and moving on to something (or someone) new.