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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Dnorman who wrote (2275)6/13/2002 9:13:19 AM
From: Alex Fleming  Respond to of 30712
 
In a bear market, the up gaps can fill quite quickly. Runaway gaps are the ones you have to be careful of if you are going long or shorting against the trend. Any recent gap downs in XAU are just a reflection of the overbought conditions that have existed in that index recently.

Just my opinion but I don't think you can read too much into them.

Alex



To: Dnorman who wrote (2275)6/13/2002 9:28:09 PM
From: LTK007  Respond to of 30712
 
the Gap downs you are seeing are what are called exhaustion gaps following a breakout(it broke it's top-side up channel in this bull run.
Problem as i see it you have already smashed your first support at 77. Failure to get back above 77 will lead to 69 and so on. You want to see it rally now.
I am watching this closely myself, as it broke back into it's up channel it can still retrace all the way to 57 and still be in it's up channel.Max


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