Bquat's Account Talk

[Bquat]

I like it...but 1351 is that no mans land for me. I would have liked to see a bounce at 1346. Which way do we go?

I would prefer to bounce off the bottom orange line and maybe get a 13 day supported channel. It looks like it wants create a 5 day supported channel but I want a little more correction for more support. Big money wants it to go down a little more trying to press for QE3.We should see the move soon but as always right after our deadline.

 

[Mcqlives]

I would prefer to bounce off the bottom orange line and maybe get a 13 day supported channel. It looks like it wants create a 5 day supported channel but I want a little more correction for more support. Big money wants it to go down a little more trying to press for QE3.We should see the move soon but as always right after our deadline.

yep...Monday could be a big mover either way with this kind of wind up.

 

[MaStA]

I would prefer to bounce off the bottom orange line and maybe get a 13 day supported channel. It looks like it wants create a 5 day supported channel but I want a little more correction for more support. Big money wants it to go down a little more trying to press for QE3.We should see the move soon but as always right after our deadline.

So when QE occurs do they just come out of no where and announce it or will it only be announced at an already planned speech from Big Ben?

 

[Bquat]

So when QE occurs do they just come out of no where and announce it or will it only be announced at an already planned speech from Big Ben?

Now I'm not saying for sure there will be one but if there is, I think it will be behind the scene a little. If they anounce it people will believe the ecconomy is real bad. So what they might do is buy in to stop dips and drift us up. You here most of the day time market annalyst mentioning it.

 

[MaStA]

Now I'm not saying for sure there will be one but if there is, I think it will be behind the scene a little. If they anounce it people will believe the ecconomy is real bad. So what they might do is buy in to stop dips and drift us up. You here most of the day time market annalyst mentioning it.

Thank you for the info. I just didn't know how people find out that QE is happening, etc.

 

[ILoveTDs]

QE3 is a meth, it will not happen in an election year -- MHO.

 

[Mcqlives]

Now you did it...surely QE3 will now happen next week:nuts:!

 

[ILoveTDs]

We'll see, but I would be political suicide if he allows it to happen.

 

[Bquat]

Here's the chart.

 

[bmneveu]

If the pattern continues, the gap down in equities today should be filled within the next few days? That's a very telling chart

 

[Bquat]

If the pattern continues, the gap down in equities today should be filled within the next few days? That's a very telling chart

Looks a little like a rising wedge, which is bearish. Ok I redrew if for you. Longer term we are in a bullish channel (violet), midterm we are coiling up in a rising wedge (pink), shorter term where in a down trend (white) and intra day we doubled topped testing support as resistance. We did not get back to the top of the purple channel and topped out on the dark red line from the last peak. So what do you guys think? Maybe 60/40 bearish, short term?

PS: I did go to candlestick with the chart so I can see the tell tell of the tails.

 

[Bquat]

Broke below rising wedge as expected. Testing bottom of new channel (white) for second time and it should hold again. If we break below it the 13 day and 1345 should hold. Still have to test the bottom of the wedge as support becomming resistance.

 

[Bquat]

Bottom of the rising wedge holding as resistance and bottom of the channel still holding as support. This is a low base forming and something may give soon, but will it happen before the deadline. Let's hope it shows soon.:worried:

 

[Bquat]

Same O, Same O so I drew what I think may be the new channel. This is the last candle before deadline and I think 60/40 we don't go up.

 

[Mcqlives]

If this action had occurred 15 minutes ago I may have gotten in for tomorrow. Oh well!

 

[Bquat]

If this action had occurred 15 minutes ago I may have gotten in for tomorrow. Oh well!

Even though I had to redraw the bottom of the white channel, I still have a bearish continuation patterm. I sall that the mirror line I had for the channel could of been lower.:embarrest: Still thinking today will end lower.

 

[Bquat]

Looked today like we were going lower, but somebody is buying. So for tomorrow here are your charts. We are setting lower highs and lower lows but I guess for tomorrow we'll watch the red line for resistance and the blue line for support. I thought we would go down failing to break the 5 day but it is rising.Some may even take the white channel as a bullish flag. I feel we're still in a low base. So I'm watching tomorrow.

 

[Bquat]

The thing I'm trying to figure out is the tale of tails. I've went to candle sticks like Christian at perfect stockalerts and watching the tails on the candles to get direction. The tops Friday and today have tails and the bottom today didn't, so are they topping tails and we go down? Go figure? He sometimes says that if he doesn't see a bottoming tail, the bullish move is false. Since I mentioned him, I should give his link.

Market Analysis Videos

 

[Bquat]

Good morning guys. Well we broke the red line and was blocked by resistance (maybe the 5 day), retested the red line as support, retested the 5 day as resistance and failed. Now on the second test of the new support line failed and now to test the blue line and bottom of the channel. Really showing so weakness here.:worried:

 

[Bquat]

Anybody know if a Head and Shoulder can have a double head?