Looks like that Gap isn't going to be closed. My speculation was right a couple of weeks back though (first chart) when guessing we weren't out in the clear just yet with the uptrend. Tested the high, before dropping back down to test the low. For me, thinking about what a bit of a downward run would look like in the context of a larger upward run makes it a lot easier to not freak out about it when it happens.
Once again though, that long-term trend line has turned out to be a pretty good support so we didn't make it all the way back down to close the gap. While dipping below the trend line isn't a big deal, I think it's moved far enough past the gap now that we're never gonna hit it.
I don't have much experience charting Elliot wave patterns, but It does look like we've played out a pretty classic 1,2,3,4,5,A,B,C here. Which means we should be prepped for the next few waves up, which corresponds well to expected timing of DFS within the next couple of weeks. I'm happier
seeing this happen after having tested again and strongly rejected needing to close that gap. Means we should be freer to continue upwards
.
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