Chartology: Close To Multiple Gap Fills

Filling gaps on charts often, though not always, is akin to permission for the price to "carry on" the move that caused the gap in the first place. Filling gaps up means be alert to the up-move continuing and vice versa, if you prefer your vice, versa.

From Slope of Hope:

Through the Lens of Gaps

The week of February 5 was devastating for the bulls. The week of February 12 was devastating for the bears. I have a feeling that the shortened week we’re approaching after Presidents’ Day will have the torch back in bear hands. Sure, we might have a little more strength, but we are so deliciously close to major gap fills, I am looking ahead to next week with anticipation (and, admittedly, some anxiety). These markets, in spite of having greatly different components, all pretty much look the same.

The emerging markets:

The high yield bond fund:

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