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the interpretation and application of price action concepts

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 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.



  and Classic Gaps   ES

xx xx 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


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.  



expect miracles, they are everywhere.............. God is good all the time

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