US gaps getting close to being filled

[Naz]

The Dow and the Nasdaq are getting close to filling their gaps.The Nasdaq gap happens to be sitting on 3 fibonacci retracement lines.The dow gap is sitting on one.

To those of you who dont believe in these things there is an awful lot of players that do.I notice that they're already starting to talk about it in the on line trading communities in the US.

The trouble is the Nasdaq loves filling gaps,both intraday and over days and weeks.This last move up for instance was started by an island.Then the Nasdaq went back a few days later filled the gap and started this last leg up.

Whatever market you trade its worth considering keeping a realy close eye on what is happening when we approach these levels.

 

[Robin]

Fib lines

Hi Naz

Anyway you can post a couple of the charts your looking at with the fib lines just really like to see how you take your top and bottoms for positioning these.

(or email them to me and I can have a word with Martin about how he posts images and I can do it)

Cheers Robin [email protected]

 

[Naz]

Hi Robin

I'll e-mail you with my levels etc.Unfortunately my grahics package just wont let me copy and paste any graphs.I'll be very interested if any tech savy guys could let me know how its done.

Going back to filling the gap there will be an awfull lot more people in the world who know about this tommorow because if i manage to get in i'll be mentioning it on CNBC europe tommorow.

 

[ChartMan]

To post a graph, it really has to be in xxx.gif format. If your package wont let you do this, get another package
Alternatively, to grab ANY screen shot, press ALT and then PRINT SCREEN key, this pastes the screen to the clipboard. Then open Paintshop pro or whatever, and press CTRL V to paste the image to the workspace.
Easy when you know how....
Naz, you need a personal assistant for your CNBC visit

 

[Naz]

Many thanks for the offer chartman.I look forward to meeting you Saturday.Thanks also for the tech bit.I want to talk to some more on Saturday about that.

You may like to know that CNBC are viewers of this web site now that i've told them about it.So if we post some realy interesting and informative posts who knows what could happen.

 

[Naz]

I like to look at technical analysis as an interesting point of view but take my trades from a level 2 screen.

With technical analysis lots of things look good after the event.So when the Nasdaq just gapped up straight thru where it should have closed the gap,i started looking at the big picture.

Suddenly i thought dosn't the big picture look like a massive island from the 17 th Sep when the market reopened to the close of business on thurs 18th.With a small double bottom thrown in.
Islands are reversal patterns could this be the true bottom of the market.Especialy as 1400 was support from a couple of years back.This is just good fun but very interesting.

 

[Naz]

Chartman, when i said meeting you Saturday it was just for a chat as i presumed you were going to the clickevents seminar at Guilford.