two gap closes in one day?

[#1]

setting ourselves up for this....

[#2]

yes there we have it two gap closes in one day...

[JohnnyCash]

And going for today's gap close up. Just started. On knife's edge with today's Gap top lined up with yesterdays gap bottom.. Likely to take out the gap on upside first.

[JohnnyCash]

And going for today's gap close up. Just started. On knife's edge with today's Gap top lined up with yesterdays gap bottom.. Likely to take out the gap on upside first.

[timba]

i went short at 20448, & already i have a sick stomach,....but lets wait & see

[JohnnyCash]

I wouldnt stay short at this stage, never. Apart from us busy closing the gap on 5 min, you have the 15min just confirming a Long and then the 30min close to perhaps confirming a long. Anything can happen, but probability says it is much rather long than short.

[JohnnyCash]

U see, either 20650 or 20700 could be turning points for a bit of respite later today but the DOW may just want to close the weekon a positive note so those 2 levels may not create any resistance.

[timba]

yeah johny, took my loss, but entered a long at 20542, so as it stands, i am sitting on break-even...and just gonna close this one & go away...

[JohnnyCash]

20650 held to the tee. could prove a sticking point for a couple of times.

[timba]

Johny out of curiosity, apart from the higher highs on the 15 min, was there any other indicator you were looking at???

[JohnnyCash]

I use Fibonacci as well and on my 5min for the also the 50% retrace sits at 20650. came within 30 points of closing the gap from yesterday and we came back quickly to close this morning's gap. Now my guess is as good as anyone's so will have to wait and see how it pans out. In addition I look at the open trading range of the first hour which is 20400 and 20550. above or below that will provide some insight.

[JohnnyCash]

And how is that! another 2 gaps closed today. UP gap closed with the us numbers.
Chartist, u back from lunch or did you get stuck in a good wine? Just a question re the 1-2-3-move. With the news now out we spiked up 140 points and now coming back. Do u see the 140 UP surge as the 1-leg, now comes the 2-leg down and 3-leg eventually will be UP again?