In TA there is a type of Gap ('Exhaustion' gap ) which suggests the imminent (though not immediate) culmination of a trend ... see link
http://www.streetauthority.com/terms/exhaustion-runaway-gaps.asp
I wonder if what we saw yesterday (see chart... gap marked for info of the uninitiated) is one such gap (remember in the past few weeks we have had at least 2 such gaps ... hence the probablilty of this latest one being exhaustion)
Even if it isn't, I will be surprised if this gap isn't closed within a week. And if it is, then according to theory we are in for a trend reversal ... sigh !!
Experts' views ? Traderji ?
AGILENT
http://www.streetauthority.com/terms/exhaustion-runaway-gaps.asp
I wonder if what we saw yesterday (see chart... gap marked for info of the uninitiated) is one such gap (remember in the past few weeks we have had at least 2 such gaps ... hence the probablilty of this latest one being exhaustion)
Even if it isn't, I will be surprised if this gap isn't closed within a week. And if it is, then according to theory we are in for a trend reversal ... sigh !!
Experts' views ? Traderji ?
AGILENT
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