my own idea,that helps me identify upside/downside price targets
for traders, following a "Size of the Gap"
Daily Price move of an index,or security
Using the GAP UP Opening Price of the S+P of 2790.50 on 12/3/18
from the Closing Price of the S+P on 11/30/18 of 2760.17,
the "Size of the Gap" on the is 30.33 Points
Adding 30.33 Points to the 2790.50 Open on 12/3
gives me a potential "upside target"in the S+P to 2820.83
That is DOWN from my initial estimation of 2840,
based on overnight S+P price activity on 12/3/18
Try using this methodology yourself...
any time there is a Gap Up or Gap Down
in an index or stock that you are following or trading.
My "Size of the Gap" methodology is constantly updated,
so if price gaps up/ or down tomorrow from today's close,
I will simply update my projection accordingly.
The magic of this methodology happens when price
gives a BUY or SELL Signal, by exceeding the upside/downside target outstanding
Right now for 12/4/18 trading,I would have an outstanding BUY SIGNAL
if S+P were to exceed 2820.83 any time going forward
although with trading down tonight, the next "Size of the Gap"
may also be giving me a new measurement to the downside on 12/4/18.
SPX 279037 Last.