The error in chart data means no one knows the gap is unfilled. An unfilled gap is extremely , especially in the S&P . My target is 210. For safety, I'd cover around 215.
Something occurred on that previous weekend and we're seeing a fundamental shift in the market. President Trump's State of the Union address was the same day, and we have a new Fed chairman.
Intermediate term, I see the market bouncing between $245 and $260 as it consolidates and builds a resistance area, before another leg down.
Fundamentally, I see the market as eliminating its financial component and refocusing on providing value. Cash flow. Long term products and services offered.
An interesting example is GE. Can GE's management get out of the finance mindset and focus on the highest quality washing machines for export?
And Tuesday morning was the day everyone else found out.