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In the last few weeks we've had several large gaps higher (very bullish) and several gaps lower (bearish). The real question to ask about this chart is this: is the last gap higher an exhaustion gap -- the last hurrah of the bulls?
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Last Wednesday we had a big gap higher (A) followed by an island reversal (B). Prices gapped lower for two days (C) and then gapped lower again (D). Note that prices are generally in a lower trending orientation right now.