Nobody's talking about oil either. Remember what happened the last time it fell below $45(?).... the old "good news (for you and I) is actually bad news for the markets". I see its up today, but if China remains shutdown, demand is gonna fall off a cliff. Its a big sector of our economy now. I guess Trump could always kick it up a notch or two with Iran to keep it artificially high though. Putin will like that too btw. What a game huh?
Here. There is a huge RSI divergence and again the gap under us. It should get filled in 2-3 days max.
Are you bearish beyond filling that gap? As for gaps - there are quite a few below that's unfilled way further down. So I wouldn't be bearish on that basis alone for sure...
On the subject of gaps since I had some stuff up here. ES since early 2013: # Gaps Up = 733 => Closed the same day = 47,5 % # Gaps Down = 553 => Closed the same day = 51,7 % This excludes smaller gaps (+/- 2,5) and only counts a full close (excluding those -1,0 points from a fill days) - but it's not really a strong bias one way or the other on that basis alone.