The gap resides at the 62% retrace of the ‘V’ shaped spike that went too far, too soon to be sustainable. Now, if this market has near-term upside (I’ve been adding SPY to keep things simple) this will have been a sustainability enhancer. On the negative side, the gap fill by definition is messing with the pattern’s symmetry to its left side. I tell you that it is a fine line between Gary the bounce player and Gary the short for 2100 (SPX) player.
Enter Mr. Powell.
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