Market’s entire goal is to trap you and fake you out.
So, let me tell when when I say that the market rarely, I mean RARELY, respects pivotal levels to the ‘T’ as you can see below.
You are currently witnessting a chart that the levels are getting perfectly lining up as below:
- horizontal pivot (from 2022 peak to the recent 2025 low)
- Rising uptrend support (from 2022 low to 2023 low to the recent 2025 low)
- Fib 50% retracement (if you measure from the 2025 peak to 2022 low — NOT shown in the chart below)
( DIA DAILY BARS)
“IMMA ISLAND BOY”
Yes, we do have an island up-gap on SPY.
Only problem is, I wish it was bigger.
If it was about 1.8% up-gap this morning, it would’ve fulfilled FULL ISLAND UP-GAP. However, we gapped up about 1% and so the portion of that island up-gap is much smaller.
It would be best if this island up-gap is protected, but I wouldn’t be surprsiesd to see it filled since the size of it is rather small.
