What Friday’s SPY Gap & Volume Action May Indicate

Not only did SPY leave an unfilled gap down on Friday, but it did so on relatively high volume. The study below, from the 1/13/10 blog, triggered. I took a new look and updated the stats.

2014-07-28 image1

Implications here appear solidly bullish. We could see a bounce this week. Of course the Fed and other factors will also play in.


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