Is S&P 500 Showing Warning Gaps?

Published 08/30/2019, 03:00 PM
Updated 07/09/2023, 06:31 AM
US500
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As Friday's trading action came to a close ahead of Monday's Labor Day holiday, an interesting observation to note is this daily chart of the SPX.

Since the beginning of August, gaps on the open in both directions have pretty much occurred on a daily basis (blue box). When the same thing happened in the last quarter of 2018 (blue box), we saw a rapid plunge in the space of a few days.

Both pink boxes show that a similar setup may be forming. The question is, will it retest the December 2018 lows anytime soon?

Daily S&P 500

Chart powered by TradingView

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