- Daily Simsci chart left a gap between 338.3 and 341.4 on 22Jan10 (pink lines). 2 months later,we are coming back now to attempt to fill the gap. (Thus far partial fill only. High 339.6).
- For traders persisting in trying to short equities, Simsci is probably a better bet than S&P500. Former chart exhibiting less strength than latter. S&P near Jan10 high; Simsci nowhere near equivalent high.
- Talk about possible double top in S&P at 1151 (early days yet!). Think the equivalent event in Simsci is the filing of the above gap and whether we turn down after that.
- If we don't turn down soon after filling the gap, I will cut existing Simsci short (in at 333.6).
- On the other hand, if we can't even manage to fill the gap completely, then it gives added comfort to bears.
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