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Gaps here, gaps there, gaps....In early to mid October the Dow Jones Index turned upward with a breakaway gap. Since, there has been three consecutive gaps upward. The last gap in the series was filled today.
There is one gap beneath that must be filled and lastly - the breakaway gap. That last gap I mentioned, breakaway, created in October, will be the last. Not simply because it's the first one in the series but because the filling of it signifies that this move is over.
The Dow could fill the next lower gap and then bounce higher. Markets do not simply go up and then go down. Fortunes are won and lost in one day. The Price chart above is a daily. If you focus in on a smaller scale such as a 1 minute there would be gaps and cycles printed on it that resemble this chart but is just a microcosim of the larger.
All gaps get filled. whether on a daily, weekly, or monthly fashion. This market, to me, says "I'm going lower".
For informational purposes only. This is not investment advise. Do your own research. This author is not directly or indirectly financially responsible for any investment the reader may invest and/or divest him or herself of.