This story was originally published here.
I’ve seen the rising levels of disbelief and skepticism in the current market rally.
But I think it will keep going for longer than many expect.
Below is an updated version of the chart I shared with my Total Wealth Insider readers weeks ago.
As you can tell from this chart of the S&P 500 Index, there’s a huge gap — an open space in the pricing from one session to another — about 70 points wide between Friday, February 21, and Monday, February 24.
The S&P 500 Moves Closer to Its February Gap
The point of the chart goes back to what I was taught by old-time traders, back in my days as a financial journalist: “Gaps are made to be filled.”
The idea is that stocks tend to be drawn to these gaps like a magnet.
It doesn’t always happen that way, though. Nor does it have to happen quickly, as the current market rally would imply.
But I’ve seen stocks that I own unexpectedly tear higher and (not coincidentally) fill chart gaps created months or years earlier…
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