VUL megathread, page-5958

I'm having a look through the threads here out of curiosity as to why this might have fallen so low recently.
This gap theory doesn't do much for me. I think gaps only get filled by chance through natural volatility, or because there is reason for a sp to fall back to a gap. That reason may be because something changed for the worse or because the price got too far ahead of itself when creating the gap. The idea that a sp falls back to fill a gap just because there is a gap there just doesn't make much sense to me. If all gaps had to get filled then why would anyone buy after a gap gets formed? Also if all gaps get filled, then why buy now when there are gaps down lower? If you go to a daily chart and zoom in, there are multiple gaps.
I'm not suggesting the sp will go lower just because there are gaps lower but if you really believe in gap theory, why buy now rather than wait for all gaps to get filled?



I think there is a good chance for a good bounce from here simply because it looks oversold. This might even be close to a major low and turning point based on the chart but I have no idea whether there is a reason for this deep sell off and whether there is a reason that this could go lower. No advice being suggested, just my thoughts about gap theory.