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Thread: Open Gap #2 filled

  1. #1

    Default Open Gap #2 filled

    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


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  3. #2

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    Default Re: Open Gap #2 filled

    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....

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  5. #3

    Default Re: Open Gap #2 filled

    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

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  7. #4

    Default Re: Open Gap #2 filled

    Quote Originally Posted by James48843 View Post
    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.

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  9. #5

    Default Re: Open Gap #2 filled

    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.

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  11. #6

    Default Re: Open Gap #2 filled

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

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  13. #7

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    Default Re: Open Gap #2 filled

    Positive vibes.

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  15. #8

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    Default Re: Open Gap #2 filled

    Quote Originally Posted by BooDog View Post
    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.
    Attachment 7106

    Attachment 7105
    Last edited by JTH; 05-15-2011 at 03:59 PM.

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  17. #9

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    Default Re: Open Gap #2 filled

    Quote Originally Posted by JTH View Post
    2003 was an interesting comparison. Here is a chart of 2003 overlaid with 2009.
    Attachment 7106

    Attachment 7105
    wow, the emotional reactions to prices, wash/rinse/repeat.


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  19. #10

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    Default Re: Open Gap #2 filled

    Don't stop, post the chart with what happens in 2004!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

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  21. #11

    Default Re: Open Gap #2 filled

    Far out JTH thanks for posting the charts!

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  23. #12

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    Default Re: Open Gap #2 filled

    Quote Originally Posted by Frixxxx View Post
    Don't stop, post the chart with what happens in 2004!

    Sorry for the delay...

    2 year chart 2003-2004

    Attachment 7109
    Last edited by JTH; 05-15-2011 at 04:00 PM.

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