Three averages gapped downward this morning, but were filled later in the day, still the measuring objectives for those averages are....COMP(2200), RUT(720) and XAU(114).
However, since most averages closed at the lows today, the * real measuring gaps* could occur tomorrow morning, and if so, these would be the halfway measuring gaps of this leg of the correction....DJIA(11200), SPX(1300), RUT(690)_, COMP(2150), NDX(1570), NYSE)8210) and XAU(112).....
Greater authority for the accuracy of those price objectives could come from greater volume as the price levels leave the base that was formed from the December lows until now, but it isn't necessary for volume to be greater on downgaps as it is for upgaps..since stocks often fall of their own weight......
Gap measuring objectives
Started by
tomterrific14
, Mar 05 2007 05:27 PM
2 replies to this topic
#2
sglasson
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Posted 05 March 2007 - 06:01 PM
isn't there four months straight of unfilled gaps beg with start of rally in Aug? last gap from Nov just filled?
#3
tomterrific14
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Posted 05 March 2007 - 07:57 PM
On the daily price charts in the major averages, I see no upgaps, except in the COMP at 2125 in mid Aug and in the NDX at 1540 , also in mid Aug........ an upgap being a low of one day being higher than the high of the previous day.....isn't there four months straight of unfilled gaps beg with start of rally in Aug? last gap from Nov just filled?
