S&P 500 $4015 Futures Gap

All gaps in the futures gets filled. Back in early March when the Russia vs. Ukraine situation was initially unfolding, many thought that would be the news catalyst would take the market down to the futures gap at $4015. This market is in an overall downtrend, however there will be volatile dead cat bounces along the way, which we saw when the futures quickly reversed out of the pull back into a short term bounce mid to late march. Ultimately the trend is guilty until proven innocent and the daily momentum on the S&P 500 has now switched to short and is looking to target that gap at $4015 again. We are less than 6% away from the fill and it will be interesting to see what the catalyst will be and how the environment will look following.