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The Gap & Fade Price Action

Kristin Alonzo

03-May-2018 09:32 AM

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The stock market is in its 3 months stretch of correction, daily technicals printed lower highs, then succumbed on 50 day moving average resistance.  The S&P 500 is trading near 3 weeks low, Dow Jones at 3 weeks low &  near to the 3% trough of the mean average gap to the 20 DMA.

SPY  near 3 weeks low, see our daily moving average % gap since the February correction our median gap to 20 & 50 DMA is at 3 %, extreme reading ( oversold) is at 6.5%

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