I looked at gaps lower of 1% or more since the bear market began last October. There have been 24 of them. Below are a few quick stats.

12 of 24 filled made it back to the previous day’s close at some point during the day.

14 of 24 finished higher than the open.

19 broke above the high of the 1st half hour. 10 made higher gains. 9 closed lower than the breakout. The average gain from breakout to close was 1.6%. The average loss breakout to close was 1.2%.

19 also broke below the 1st half hour of trading. 10 of them finished above the breakdown point and 9 below. The average gain of the risers was 1% and the average loss of the decliners form the breakdown point was 1.5%.

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Also, Thursday was a follow through day for the market. Traders may want to review some of the FTD research over the weekend, including short-term implications.