Below are six major U.S. stock market indexes—the Dow Jones, NASDAQ Composite, NASDAQ 100, S&P 100, Philadelphia Semiconductor Index and S&P 500. I merely share this to illustrate the importance, and the consistency, of the price gap that was defined last weekend.
I have anchored each recent horizontal to the same gap. Let’s just agree that it would help the bears an awful lot if we managed to stay below these gaps.