Walter Deemer: S&P 500 and Nasdaq 100 need rally to fill large morning gaps

Walter Deemer: S&P 500 and Nasdaq 100 need rally to fill large morning gaps
S&P 500 and Nasdaq morning gaps

Walter Deemer highlights that S&P 500 (SPY) would need to rally to 747.88 and Nasdaq 100 (QQQ) to 702.61 to fill large gaps that appeared this morning.

He adds that the speed at which these gaps are filled, if at all, could provide insights into the strength of the underlying market trend.

Deemer previously noted that QQQ filled a recent downside gap and now shows a new upside gap to watch at the 712.26 level, according to a prior commentary. He has also reflected on the challenges faced by value investors like John Neff during the 1972-73 Nifty Fifty era in the U.S. market, as outlined in an earlier article. These observations add context to his gap analysis in today's session.

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