The step up over the past week was unsustainable, and it left three gaps that would require filling. I believe one of the gaps around 3.69 has now been filled, it should consolidate around here. This is good for the next leg up in SP, possibly to 4.00. However, if the selling is strong enough and the DOW decides to have a red day or two, we could see the next gap down filled (can't remember the exact price of the next gap).
Charts / trend analysis can give indication of prices for entry and exit, but cannot really give timeframes.
I'm ready to load back in after being in a fortunate trade from 3.18 to 3.86. But the risk is now that the 3.69 gap is closed off, it needs to consolidate or bounce before we can be sure this is the only gap that will be reached on this short term retrace.
AGO Price at posting:
$3.71 Sentiment: Hold Disclosure: Not Held
