Old mother nature don't seem to like vacuums here on earth and also gaps in stock charts can be like that too. Notice that on April 22 T closed at 36.29 with a low of 35.96 for the day. On April 23 T opened at 35.01 creating a gap that was not closed until May 1. Now that the gap is closed we could see consolidation around current levels for a while. Safety still rules the day and stocks like T are in the "sweet spot".