Hi James, technically speaking, how do you view gap ups, like the one we saw with IWM today? Using IWM as a general example, it’s now firmly above all key moving averages, which alone seems very bullish based on the way you evaluate charts. But it also seems you’ve been hesitant in the past about gaps in general since they often fill.
In terms of viewing charts, should we be bullish on things when they’re above all moving averages, but skeptical if a gap up is what got us there?
Look almost all gaps fill within time, todays likely will too, when who knows but you want to sell puts at the gap fill for when that happens bc gaps filll and go usually. Below the 21 ema any name is in a downtrend so now back over a name is in uptrend again
Hi James, technically speaking, how do you view gap ups, like the one we saw with IWM today? Using IWM as a general example, it’s now firmly above all key moving averages, which alone seems very bullish based on the way you evaluate charts. But it also seems you’ve been hesitant in the past about gaps in general since they often fill.
In terms of viewing charts, should we be bullish on things when they’re above all moving averages, but skeptical if a gap up is what got us there?
Look almost all gaps fill within time, todays likely will too, when who knows but you want to sell puts at the gap fill for when that happens bc gaps filll and go usually. Below the 21 ema any name is in a downtrend so now back over a name is in uptrend again