Exhaustion or meansuring gap on $COMPQ?

http://stockcharts.com/h-sc/ui?s=$compq

The early March up gap was a breakaway gap, measuring to about today's close of 2504. Today's gap is either an exhaustion gap or another measuring gap, which implies an objective of about 2800 on the Nasdaq Composite.

Another or a series of up gaps from today's close argues for 'runaways gaps', giving credence to a 2800 price objective.

A reversal tomorrow implies an exhaustion gap. Confirmation would require a break of at least the 60 minute uptrend from the Feb low.

Unfulfilled price objectives still exist on the SPX (1230-1250) and may get the help of the Energy Sector, as XLE and XOI are at triple tops, currently.

I think it's an exhaustion gap only if we fill it and continue down, otherwise filling it would be a common gap. My bets are that it is a continuation/runaway gap and we continue pushing forward

I think it's an exhaustion gap only if we fill it and continue down, otherwise filling it would be a common gap.

My bets are that it is a continuation/runaway gap and we continue pushing forward

common gaps area gaps that occur in a trading range. This gap occurred well out side a trading range. However, identification as an exhaustion gap does, as you say, require a fill and continuation down.

As no uptrend line has been broken, the assumption that it is a continuation gap seems to be the most valid.