christian.langfors
Long

SPY - WHEN WILL THE GAP BE FILLED?

AMEX:SPY   SPDR S&P 500 ETF
51 0 1
... or will it be filled at all anytime soon..? This year, we have only one unfilled gap on SPY             . This gap was a runaway from ~202 to 212 without any major pullbacks on the road. However, lately all gaps have been filled sooner than later. Also this last pullback is missing the "double bottom" seen on 1h chart. Volume with the move looks good though and also MA20 is beginning to point north as I write.

Currently I see good edge for both testing a short position (perhaps not right now at this level) and going long with a stop @ gap up open or somewhat below 204 bottom or @ hourly MA20.

If you miss the train, look how SPY             pulled back to hourly MA20 in February after the runaway gap earlier. Expect similar event now.

I'm in the bull camp as long as gap is not closed, or we go below hourly MA20. I'm not confident it will blow the roof though, and sceptic it will go directly above the drawn channel.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out