Open Gap #2 filled

[tsptalk]

Open gap #2 of 4 on the S&P 500 has been filled near 1058 this morning.

Two more to go... 1016.48, 905.84

 

[James48843]

Do you really think both will get filled? I am thinking perhaps not.

I am liking the way the chart is holding up today, and thinking we very well may ease down to the 104o-1050 range, and reverse.

If you had to give it odds, what odds would you give of the 1016 or the 905 being reached? Today, I am thinking perhaps 35% of 1016, and perhaps 20% or less of ever reaching 905 again. But then again, I may be way too optomistic.

What are your toughts on the odds there....

 

[Fireant]

Patience... wait it could wipe it out fairly quickly... I don't know but have been waiting patiently for the re-test or correction... DA FIREANT

 

[tsptalk]

Do you really think both will get filled? I am thinking perhaps not.

Eventually. Perhaps not during this pullback, but very few go unfilled in the long-term, unless they are very small.

 

[BooDog]

Check the SPY chart for 2003, how the trend worked from October through January and compare to how the chart is set up this year. Could see the same action, but we know where "hope" can take that thought.

 

[tsptalk]

Yeah, very similar. Several 5% pullbacks but nothing really serious.

 

[KevinD]

Positive vibes.

 

[JTH]

Check the SPY chart for 2003, how the trend worked from October through January and compare to how the chart is set up this year. Could see the same action, but we know where "hope" can take that thought.

2003 was an interesting comparison. Here is a chart of 2003 overlaid with 2009.
View attachment 7106

View attachment 7105

 

[fedgolfer]

2003 was an interesting comparison. Here is a chart of 2003 overlaid with 2009.
View attachment 7106

View attachment 7105

wow, the emotional reactions to prices, wash/rinse/repeat.

 

[Frixxxx]

Don't stop, post the chart with what happens in 2004!

 

[BooDog]

Far out JTH thanks for posting the charts!

 

[JTH]

Don't stop, post the chart with what happens in 2004!

Sorry for the delay...

2 year chart 2003-2004

View attachment 7109