my thoughts, page-4

When the month long congestiion was almost over, I noticed that the SPI was always managing to fill its gaps and was caught by surprise when it moved out and up still leaving a gap.

It left a couple more on the way up but only one now remains.

That gap is to 4914 SPI.

It seems likely that this might be the markets aim now.

In coming back down we have managed to leave a gap up at 5093, although I never worry as much about upside ones. The overhead ones will get filled eventually as over the very long term markets will always go up.

I would love to have some software that kept track of all gaps even if they are years old. It shouldn't be too hard to do. Some say gaps are meaningless but I disagree.

That doesn't mean the market won't be going lower than 4914. I appears to me that the action from late May is starting to look like a B wave triangle, with the C leg down now starting.

If A and C are equal in time and price then that suggests 4637 on Sep 7th.

Of course I am still looking for 4364ish in October.