Bull Flag breakout on SPY could pull back to fill gaps

SPDR S&P 500 ETF TRUST (BATS:SPY)

BATS:SPY SPDR S&P 500 ETF TRUST

indicator chartpattern trendanalysis spy sandp500 gap bullflags meltdown

When we take a closer look at the breakout of this flag on the daily, we can see that SPY has 3 gaps to fill. The first being 442, then 431, then the final gap at 424. I expect these gaps to fill in after SPY tappers off around 559 ish if not sooner. Gaps should fill within the next 90 to 120 days before we move back up for the spring summer run of 2024.

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