Friday, July 08, 2016 4:04:46 PM
Take a look at the S&P chart back before FEB. See how the pattern then matches the pattern now. It's a coincidence as this exact same pattern happened twice. But it does show the gaps below may just be left behind again. And the future may continue as it did after the FEB lows.
The rule of thumb for gaps is; 90% of common gaps fill, but the first gaps in a new run, are often left behind.
As with all TA & charting, there is no black and white. But the odds for success is increased when technical knowledge is applied.
What I'm saying is; until a reversal occurs, expect the gaps below to act as the coincidence pattern did, back in FEB. Or don't be concerned about gaps below until reversal happens.
Study a typical "V" bottom pattern.
The rule of thumb for gaps is; 90% of common gaps fill, but the first gaps in a new run, are often left behind.
As with all TA & charting, there is no black and white. But the odds for success is increased when technical knowledge is applied.
What I'm saying is; until a reversal occurs, expect the gaps below to act as the coincidence pattern did, back in FEB. Or don't be concerned about gaps below until reversal happens.
Study a typical "V" bottom pattern.
Welcome to my mind!
Success to all
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