One would have never guessed that a price gap this large and left this far in the dust would be filled, but there you have it: it had to lose nearly 30% of its value to get there, but it did so:
Softie Gap Fill
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Gaps Filled
Well, the futures were off to an exciting start at first, with the /NQ plunging nearly three hundred points. Yet now, not even two hours into the session, with have a green /RTY, a green /YM, and an /ES down as of this moment a few hundredths of a single percent. Some crash, eh?
I just wanted to do a very quick post showing how the gaps were swiftly filled. They were actually filled to the PENNY, which was picture perfect for a few minutes, but since then prices have even pushed above the gaps (but, so far, only by a little bit).
Swatted a Fly
This all the mayhem around rocket stocks, I was tempted to short Firefly Aerospace (FLY) last week based on nothing but its price gap. I confess, I just couldn’t get up the courage. What a shame! Look at that hard reversal.
The Rivian Gap
My RIVN long is doing dandy, but I wanted to at least give a heads-up to an important resistance point in the form of a price gap formed between the last day of 2023 and the first day of 2024 at $23.10. To me, that seems like a good price target (or just below it).
Hold the Line
With all the sloshing and swishing throughout the day, when it was all over, the S&P 500 futures closed up 0.07%. Whoop-de-freakin’ ding-dang-doo. Good Lord, this market has become dull.
With that dazzling introduction, as we await the FOMC in 3.5 more trading days, below are some key U.S. stock indexes and, important, their key resistance levels. It would make things a lot more pleasant with the bears if these resistance levels were respected and not exceeded. Here, close up, is the NASDAQ Composite:
