Gap down?

Did we get a sell signal?

A weakening market making new highs, a doji day at 1988-1991 followed by a gap down ?

Not quite – as we did bounce off the mid-line at 1974 and held at the Gann line from the February low.

Personally I would expect to see a quick drop to flush out the weak bulls and then a resumption of the grind higher.

Chart of S&P500 for 28 July 2014

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