three gaps under the market


There are now three gaps underneath the market, which is very rare, the odds do not support a fourth gap higher. But they are just odds. The low NYSE volume the previous two days of 3.6 and 3.8 billion, respectively, also are not supportive of the massive move, which could be short covering after recent rate hike remarks. The emotional buying left poor structure, three gaps and multiple prominent points of control that suggest the possibility of revisiting in coming days.


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