Does SPY gapped filled mean end of rally?

Sure enough. I think no follow through on yesterday's rally is a sure sign of a change in market sentiment.

On the Dow, we do have important support below. Convergence of 50 day SMA and EMA at around 9750. Trendline support at about 9550. 200 day SMA at 9200. 200 day EMA at 8600. Then strong support at 8100-8200.

 

Forget about support. When the gap finally got taken out, it was the beginiing of the end.

 

flipper, I wouldn't get too one-sided on the market. I, as you, think this is it (I personally see a long term target of around 2500), but the bulls always seem to have one up their sleeve. Be careful out there.

Monday will be a very telling day.

 

this is the most confident i've been in a while of a prolonged decline. Free money every day to the downside!!

 

I just realized I made a mistake in my title and wrote "gapped" instead of "gap".

Can the moderator please do me a favor and correct this? Thank you in advance.

fm

 

I just realized I made a mistake in my title and wrote "gapped" instead of "gap".

Can the moderator please do me a favor and correct this? Thank you in advance.

fm

 

it seems fairly certain now that the year old gap that was filled around 10/21 is the high for good on this rally. I would not be surprised if the dow failed to get back to 10,000 and the S&P failed to get back to 1100 for a long time.

 

likely see 1080 though before a drunken stagger sideways and then into the gutter.

 

1080 may be out of reach. we'll see, don't think so.

 

Filled gaps are very powerful. Any rally is to be sold and i don't think the S&P can climb towards that gap, possibly it can make a right shoulder but that's it.