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Tuesday, January 20, 2009

S&P Trying to Fill Open Gap

You can see the open gap in the S&P 500 futures at 792:

A good number of traders will sit on that gap and wait for it to fill before going long while others will wait to see if the prior low is tested successfully first.

You can also see the gap in SPY, the S&P500 Spider (more SPY Charts) ETF :

Kirk Lindstrom's Investment Letter Performance

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