Friday, April 13, 2007

Fillin' the Gap

The Nasdaq Composite Index (.IXIC) filled the gap it created back in February. Today's range (lookin a little hanging man-esque) didn't make it into the shadow above the gap, so we'll have to wait until Monday (confirmation day) to see where things go from here. I can just see a graph like this one in trading books of the future under the subject of gap fills, W patterns, Bottom trade entry, etc.
I like this one too for what you see when you snap the Fibonacci Price Retracement Lines, a bounce right off the 38.2% line.

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