It has been incredible bounce for spy but 4th gap up on an index, hourly RSI above 80s and Macd on hourly about to cross down. I would take my chance and short this at least for some gap fills....
Exactly. Nobody cares about gaps till we crash. There are gaps in spy in the bottom of the 200s. Those may never fill and probably won’t. The ones in the upper 200s will though. If they are within the trend they will fill at some point.
SpyMasterTrades
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Agree. Also, each gap is occurring on smaller and smaller volume. Price now approaching the high reached on Sept. 2nd. This week also coincides with the usual bump in Fed asset purchases. So all signs point to a double top. I am cautiously short.