Live Update

Friday, August 28, 2009

08/28/2009 Pre-Market Briefing

Could be opened above the yesterday’s range but the gap is relatively small, so no idea if it will be filled today or not. If not filled today then this will be the 10th gap on the SPY chart. I know some gaps take years to fill but I simply couldn’t believe that these 10 gaps all need years to get filled as I don’t remember in the past that SPY had these so many gaps.


9:32am, I think there’s a chance that this gap won’t be filled today. General rule of thumb, if the gap not filled and after 10:30am there’s new intraday high then today could be a strong up trend day.


9:54am, bad news for bears. COMPQ and SOX negative divergence is gone.


10:34am, ChiOsc too low, SPY could rebound from here.



  1. Intel really gave market a pop! Is it another widening wedge patter going on?

  2. Well, gap got filled... and from the open (not counting pre market) spy sure look like trend day down...

  3. If gap down big then filled immediately, then the day could be very strong uptrend day. But I don't remember if gap up big then get filled immediately then what would happen the rest of the day?

  4. I'm keeping my eye on Sept 4th. A full moon plus a top for the year in other astro-models is predicted. The week of Sept 7th could be the unraveling. Aside from those things, which may be incorrect, in the context of what we're seeing every day it's looking like the time to short. When people are chasing garbage like Citi, Fannie and Freddie for quick gains, clearly the volume is gone and there is no "real" momentum left in the market.

  5. Hello Cobra,

    Sell Signal from Trim Tabs,..article:,940306.shtml

    Regards, Jim P.

  6. Yeah some gaps can take over a year to fill, but the average time to fill a gap is just under 100 days. That means ther's a high probability most of the recent gaps will be filled by late fall.



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