Gap at 122.74 should be Filled

Gap at 122.74 should be Filled

SPY is set to gap down and open ~122.25. The previous high at 122.12 should act as support and I expect SPY to bounce ~122.12 possibly back to 122.74 to fill the gap. If SPY breaks and stays below 122.12 then SPY is headed back to 119.97 to fill the gap from last Wednesday. Support below 119.97 is at 119.77 and SPY is likely to bounce there. Still It may take a few days for SPY to break below 122.12 so wait for a good short entry near 122.74.

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