Loading ...SLV : The 3 Gap Play ?
SLV had just filled 3 Gaps
Could we be watching the Rarest of Rare Patterns unfold in real time ?
The 3 Gap Play
I heard about this pattern many years ago .
Haven’t heard anything about it in like a decade… BUT it’s a real thing !
A market goes nucking futz to the upside and 3 gaps are left…then it reverses
in this case dramatically with an island ( Gap ) Top and covers the 3 gaps before reversing again
and taking off !
Here is a description …but it leaves out what comes next…the reverse reversal !
Stay Tuned
The Spock/Plunger PF got hit hard today, almost 3%.
My reaction was, maybe capitulation?
Down about 18% from the high. So based on Jordan’s video, not there yet.
Rau paoul thinks the bond correction is ending
He is very very bullish bonds. What he says is squaring
With the 3’gap play reversal coming soon
Interesting
Bonds are a Ridiculous “Asset”
The more demand the lower they yield the lower the yield the more the demand until one fine day YOU pay to hold them
Now aint that a deal.
To me, eyeballing it, the trend is still up even if it goes below around 15.30 or even 14.60 for a bit (my amateur opinion: exact numbers and sharp lines are overrated for this sort of thing). I think the chances are good that the overall trend will eventually show itself to be intact–eventually.
Nevertheless I certainly would hate to have been a big break-out enthusiast who plowed an inordinate amount of assets into it on one of those abrupt jabs upwards. I personally don’t like these sorts of markets, gaps or no gaps, even when I hold a lot and the stuff is going up. I was feeling anxious with the break-outs for this sort of reason. I sold a bit of silver stocks and perhaps not enough.