mpulley

Mind the Gap!

Long
SP:SPX   S&P 500 Index
Sold a chunk of my SPXU at the close yesterday. Why? Take a look at the gap that formed yesterday. Typically gaps are filled. That's what happened on Sept 20th. We gapped down and the gap was filled days later. So for the near term, I'm expecting bullish movement to fill the gap. Beyond that, I'm expecting the bears to take over.
Comment: Well, that could have gone better, but I'm not out. Right now, the market could turn and form a double bottom.

Comment: Still waiting for the gap fill. 🤞
Comment: Testing this month long resistance. Will SPX break and fill the gap?
Comment: We got the break but weak close. So bulls and bears got something today. There's a little bit of a gap left to fill on the upside. Also notice, now we have a gap for the downside. This bodes well for my prediction on Sept 29 that we would bounce to fill the gap then fall.
Comment: Lower gap is filled. Now I'm looking for a retracement back upward.
Comment: Possible inverse H&S forming
Trade closed: target reached: Gap finally closed! Bought some SPXU, but ready to purchase more tomorrow we continue to climb.

Comment: One last note, notice we gapped up this morning...