Big downside move on the major indexes. But lack of volume is like less thrust available for follow through.
Nevertheless, we anticipate the the S&P 500 will sell-off to its 200-day moving average.
That would also fill the gap (air pocket in price action made from a higher open on the chart) made two weeks ago.
We mentioned several posts ago that it was just a matter of time until it gets filled.
To a novice the concept sounds bizarre, and we won’t argue. But the reality is that’s the way it often works.
Successful trading is about lining up winning odds in your favor.