Short

SP500: Gap Showed Up This Morning. Can Price Fill It?

Updated

Last Friday was a massive upday in the stock indices. Then right out of the gates the was an upside gap on the charts. As I am bearish on the indices after a retracement upward the thought has occurred to me that this gap has a potential to get filled. There is indicator divergence as shown on the chart. So watch this space. I am watching this closely and trying a short bite when the weakness persists

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Weakness is setting at the moment and I have been able reap 10 points. Still looking to work the gap close idea till the daily high is blown out of the water.

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There was strength right out of the gates this morning. 3890 was strongly defended. So the idea is suspended till that level is broken. A break above 3944 will put a death to my continuing to look for downside price action

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price is now moving more towards 3890. There is still hope that price will fill the gap the above mentioned gap. We need a break below 3890 first though

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Price has run up to the upside so the gap fill idea is negated for now.
The longer timeframe idea of a sell in SP500 is still in play. Being nimble is the name of the game. So far I have 10 point in the bag. Whether this will increase or not being nomble is needed. This marker could go up 50 points and then collapse 50 points. Stay nimble
Thankd

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This market is treachrous at moment. Like a child having tantrums. Up and Down, Up and Down till the true direction is revealed. I will not be surprised if this upside move is just a fakeout.

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The advantages of not being married to a direction is what is playing out now. Price spiked to the upside and looked like it was going to the moon and then promptly list all the gains made and more. This market is treacherous and there are 2 ways to play it. Either you use a massive stop or you watch price action and be nimble

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Downside it is and I am loving it. Idea still in play. Stay nimble

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3890 has been taken out in a big way. Price is about 15 points below this level now

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Price is accelerating to the downside. Hope all following this idea are making some money

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Really looking good

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Gap filled. Idea is a success

Olu

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