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Walter Deemer observes that major opening gaps appeared in the market this morning.
He highlights that SPY would need to fall to 744.44 and QQQ to 724.01 to fill these gaps. According to Deemer, the speed at which these gaps are filled—or whether they fill at all—may indicate the strength of the market’s underlying trend.
Deemer has previously identified key levels for gap fills, noting that SPY would need to rally to 751.47 and QQQ to 732.52 to close similar morning gaps. He has also pointed to an unfilled gap in QQQ at 722.12 as a potential indicator of market momentum. These observations reflect his ongoing focus on how gap fills may relate to underlying trend strength.