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Precious metals rallied strong yesterday based on the news that we beat Iran for the 39th time in the past couple of months. We are very close to a price gap, which, given the huge right triangle top, could be a good entry point for new shorts.
Here’s a magnificent example of how useful gaps can be. Rivian (RIVN) had been rallying mightily, but the moment it sealed its price gap, it was game over. It’s been falling ever since!
In spite of the /NQ’s triple-digit counter-trend bounce (although it’s red….barely!) there are gaps all over the place. Here are a few tasty morsels:
A couple of months ago, the entire software-as-a-service (SAAS) space got blown to smithereens. Subsequently to that wipeout, it has put on a tremendous comeback, yielding very large percentage returns (since it was crawling out of such depths). I’ve taken advantage of this strength by shorting the two items below, which are quite close to major price gaps.
