Rally built on gaps! - Expect a drop to 100% FIB level
Updated
Good morning traders,
The rally in all US indices has been built on gaps. Check the Dow Jones, NASDAQ and also the SP500.
There are numerous gaps which need to be filled.
There is no gap which has not been filled in the history of the stock market (apart from the present ones).
The SP500 has now reached the FIB 127% extension.
Expect some negative press regarding the trade war next week.
Bearish divergence on the RSI
Please let us know your thoughts!
forexstoreau.com
The rally in all US indices has been built on gaps. Check the Dow Jones, NASDAQ and also the SP500.
There are numerous gaps which need to be filled.
There is no gap which has not been filled in the history of the stock market (apart from the present ones).
The SP500 has now reached the FIB 127% extension.
Expect some negative press regarding the trade war next week.
Bearish divergence on the RSI
Please let us know your thoughts!
forexstoreau.com
Trade active
Trade is still in play, the SP500 has failed to break above the 127% FIB extension. Trump has cast doubt over the first round of the trade agreement.
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