Since Sep 5 this is the fourth unfilled gap on the SPX. This is bullish price action. Hourly divergence last week got resolved in a sideways flag of just 7 points range ! That is again bullish. I closed my longs from SPX 2467, last week, at 2496. Looking for a minor dip to get back in today. Today looks like another sideways small range day between 2505 to 2509.
SPX
#1
Posted 18 September 2017 - 10:12 AM
#2
Posted 18 September 2017 - 10:21 AM
To me, it can top out any minute.
#3
Posted 18 September 2017 - 10:26 AM
In classical candlestick patterns, three gaps cap a run on a daily, even more powerful sign on weekly. Of course, don't know if you're seeing this on daily or not, and haven't checked.
Also, since quant trading took over, I've seen as many as five gaps, but this was on individual issues.
Edited by dowdeva, 18 September 2017 - 10:28 AM.
#4
Posted 18 September 2017 - 10:30 AM
In classical candlestick patterns, 3 gaps cap a run. Of course, don't know if you're seeing this on daily or not, and haven't checked.
You can see this on hourly or daily charts.
3 Gap play is not a given. In very bullish structures, i have even seen 7-8 unfilled gaps.
#5
Posted 18 September 2017 - 10:35 AM
And all gaps are filled eventually, gonna be an interesting week!!!
#6
Posted 18 September 2017 - 11:51 AM
Bought half size at SPX 2505. Will add more if we get to SPX 2499.
#7
Posted 18 September 2017 - 11:52 AM
And all gaps are filled eventually, gonna be an interesting week!!!
Question is when and whether you made money in the mean-time.
Edited by NAV, 18 September 2017 - 11:52 AM.
#8
Posted 18 September 2017 - 01:34 PM
Added another half at SPX 2502. My average buy price is now 2503.5. STOP is at 2496 for now. Will move it higher based on the price action.
#9
Posted 18 September 2017 - 01:41 PM
Moving my STOP to SPX 2499 (bull-bear line for today). If it breaks 2499, it's short term bearish and i would want to be in cash.
#10
Posted 18 September 2017 - 04:18 PM
And all gaps are filled eventually, gonna be an interesting week!!!
not necessarily .....theres a huge one at 313 spx jan 1990