SP500 no more gaps to fill

Discussion in 'Trading' started by Hunter2020, Jul 22, 2022.

  1. NoahA

    NoahA

    It says Globex because I use the entire session from 6pm ET to 5pm the next day, but just show the bars from 09:30am to 4pm. So I kind of just build my own RTH daily chart.

    As for the two areas you outline in your red boxes, we agree on the second one, just above 3800, but I honestly don't see the first one just above 3700. Here is my view, more zoomed in and shown on an hourly chart. Everything around 3700 close to the lows is filled in.

    ES-202209-GLOBEX [CV]  60 Min   #29 2022-07-23  19_18_00.619.png
     
    #31     Jul 23, 2022
  2. NoahA

    NoahA

    Oppps... I actually missed one at 3860. It shows up on the hourly but not on the daily because of how this works.

    But if I draw in every single one that I see here on the hourly, it comes to 12. (many are not visible on the daily mind you) Only 2 are not filled out of 12, and that therefore gives a pretty high win rate. And I fully expect two the at 3860 and 3820 to fill. And especially if this plays out like a channel as outlined.

    2022-07-23 1626.58.png
     
    #32     Jul 23, 2022
  3. SunTrader

    SunTrader

    ! Gap1.png
     
    #33     Jul 23, 2022
  4. NoahA

    NoahA

    Here is how my chart looks. You have a missing bar on June 20, but now that I look into it, I see it was Juneteenth. The volume was extremely low that day, so even though price did move, I think its correct to disregard this bar and call it an open gap. So you're right!

    2022-07-23 1710.45.png
     
    #34     Jul 23, 2022
  5. SunTrader

    SunTrader

    What do we have here. It looks like a gap fill today with the $SPX - no "obligation" required it seems.
    ;)
    ! SPX Gap filled.png
     
    #35     Jul 27, 2022
  6. SunTrader

    SunTrader

    Yeah but what do I know. This guy have an alphabet soup of letters after his last name. Must make the big bucks.
     
    #36     Jul 27, 2022
  7. Overnight

    Overnight

    Looks like a bear-market bounce to me.
     
    #37     Jul 27, 2022
    SunTrader likes this.
  8. maxinger

    maxinger


    simply plot ES instead of SP500.
    Then there are hardly any gaps.

    Then you don't have to worry about gap being closed / filled,
    gap as support / resistance ... and those things.
     
    #38     Jul 27, 2022
  9. Overnight

    Overnight

    That's because the ES is what causes the gaps of the SP!
     
    #39     Jul 27, 2022
  10. possibly, Morgan Stanley, Goldman Sachs, & JPM band together to smoke daddy Dalio out of his short positions. They all have sung the bullish tune lately.
    He got on TV and bragged about how well his short positions are doing.

    [​IMG]
     
    #40     Jul 27, 2022
    murray t turtle and NoahA like this.