Open Gaps

OPEN GAPS

Gap Projection Technique A NAKED GAP more Naked Gaps 081103NakedGapFill open gap2

I keep track of open price gaps. They can act as magnets to attract price and as important support/resistance area where reversals may occur. I measure gaps from the close of price bars. I find old gaps important to keep track off.

Price also gaps up or down at the open of the trading day. This offers many opportunities to trade to fill the gap or as a gap expansion trade.

NQoos Naked Gap ( seems Tom Demark calls it a Lap Gap) is different than Classic Gap.,

Naked GAPS =

a GAP from previous day's close that price has not returned to on any following days.

I AM FOCUSING MY ENERGY IN DIFFERENT AREAS. WILL NOT BE POSTING THIS DAILY FOR A BIT

NQoos Naked PRICE GAPS and Classic Gaps ES				xx	xx	NQoos Naked PRICE GAPS and Classic gaps INDU
NQoos Naked PRICE GAPS and Classic Gaps ES						NQoos Naked PRICE GAPS and Classic gaps INDU
prepared for see below						prepared for see below
DATE	Naked Gaps	Classic Gaps	Dif form YD CLOSE			DATE	Naked Gaps	Classic Gaps	Dif from YD CLOSE

GAPS ES for 093003 click to enlarge chart

Gaps INDU for 093003 Retest breakout then down click to enlarge chart

UPDATED for 092603 - I may only update when new gaps are formed or closed click to enlarge chart

092603 INDU GAPS click to enlarge chart

UPDATED for 092503 - I may only update when new gaps are formed or closed click to enlarge chart

UPDATED for 092203 - I may only update when new gaps are formed or closed click to enlarge chart

click to enlarge charts

091903ES

091803ES

091503ES

click to enlarge chart

3/14/03

I am still a bear. GE hit new 6 year low Thursday. We pulled back into channel end of day. I see that as more energy to go down now. Perhaps continuation at open to upside. Test underbelly large channel and/or top of smaller channel then down to the gap with momentum this time. Upside lots of resistance. The two trendlines mentioned then into the area we were stuck in before.

3/13/03 Moving closer to target after today test of small channel and finally breaking and staying under larger channel. Tomorrow 803.

3/12/03 Still looking for gap fill 803. Taking along to move, consolidating mean powerful move coming.

3/11/03 - Could not hold below the channel.

3/10/03 - Poked channel/ bounced and closed on channel.

3/7/03 - Need to break the channel now.

3/5/03 - No new gaps. Continue to consolidate . I marked off a well formed pennant with targets for when it breaks usually a continuation pattern. If so, gap at 803 is near pennant target then HS target 78225. It will have to break the channel we are now in.

(previous posts had daily bars based on all sessions, future charts will have only RTH)

3/4/03 - Nothing new consolidating for move. Today spike I don't count technically.

3/2/03 - Technically this may not be a Head & Shoulders "by the book". It is how is see them. So far its working. Neckline broke and retested twice. I would prefer the left shoulder be a bit more symmetrical. Trigger was 867 target is 78225. Perhaps we will retest the neckline again and move sideways for a while. Sideways action could create a bear flag or sideways channel, filled with price energy ready to explode for the next move.