Bquat's Account Talk

Sort by newest Sort by date
Getting a little nervious here. Seen this pattern before. We need another up move soon.:worried:
 
I'm still holding out for SPX 1474 before the week ends - then the next up move could be boundless. Who knows we may get it sooner than I anticipate. Perhaps Obama will get caught in one of his many mendacities - the Romney BOOM is coming. Sooner or later monetary policy and political intervention will lead into strong fundamentals and a mega trend secular bull market will provide immense wealth to those who have courage.
 
Thanks guys. I'm just glad this is a confirmed move and not a DCB. Also that the 5, 13 and 20 are now support.
 
Can tomorrow be even better - you bet. Hedge funds are chasing the bull for performance. Let'em buy all they want. Snort.
 
I am one happy camper as I go to bowl. Cup and handle or V bottom. You pick, because I'm at my entry and have 2 IFT's.:)
 
I can feel the rush setting up for the last hour run that will take the SPX up past 1465 and then tomorrow on to 1474. After that there is no top until sometime in 2013.
 
Birchtree said:
I can feel the rush setting up for the last hour run that will take the SPX up past 1465 and then tomorrow on to 1474. After that there is no top until sometime in 2013.
Click to expand...
Not much of a last hour move but some good and bad charts comming up.
 
This is an excellent post from your maybe excontrary indicator.
The possible good: We are at may be a long term bull flag for the S&P. This is within the flag part a high base that has formed. We are aproaching the top of the consolidation off of a triple bottom and failed move. Very bullish.:)

The possible bad: We are also aproaching the double top area of 1470 which is heavy resistance. Yes heavy resistance.:suspicious:

The possible ugly: A failure to break out above 1470 will be a tripple top failure and big breakdown. I think it may be the formation of a MA pattern and we have a 95% chance of going all the way back down and them some.:worried:

Now whats going for us is that the weekly's are looking better (high base) and unlimited QE3 that could even stop the A pattern from completing. We are not overbought but still have a slight bearish divergence. A gap tomorrow would solve our problems, but today we moved less than yesterday, but time gives strenght. Okay opinions on these comments and charts are welcomed and are even asked for. Help our members decide. This is what I have and hope it's fair view what may happen.
 
Now why I took the risk to save my IFT's.
1.There is a chance we go back down to the bottom of the channel right after the higher high as before and I want the opportunity to sell and buy back in if we get the fourth bounce off the bottom.
2. There is also always the chance that Isreal will announce an attack on Iran is emminent. I would like to get out then and get back in after Iran back down or the treat is gone.
3. I want to be in the market for the election and the post election effect and have both of my November's IFT's
4. There is also the possibility that I was stupid and got lucky.:D There has been plenty of times people have taken a loss to save a move for a better situation for gain. I am happy to have two moves for several things that can happen the next two weeks.
 
Well we may lose yesterday's gain this morning but it may be good for the market to consolidate between my entry point and the light blue line. If this is a cup and handle formation, the sideways consolidation to a slight down movement is needed for the handle. Another retest of the light blue line would be good as we wait for the rising 5 and 13 day. If the light blue line holds we're still in a high base.:)
 
Here's a quick Birchart for you before he gets here after feeding his adviser.:D
 
Last edited:
I have a bad feeling about tomorrow, I sold my TNA position because I didn't like how things were lining up into the close. Good luck tho :)
 
You must log in or register to reply here.

Similar threads

RevShark
  • Article Article
RevShark's Traditional Thanksgiving Post 2024
Replies
2
Views
628
nasa1974
nasa1974
UNIX84
UNIX84 Account Talk
Replies
15
Views
3K
UNIX84
UNIX84
tsptalk
  • Article Article
When traders become buy and holders
Replies
1
Views
346
JTH
JTH
tsptalk
  • Article Article
TSP Talk - An inauspicious start to the New Year
Replies
1
Views
422
nasa1974
nasa1974
tsptalk
  • Article Article
TSP Talk - Where is the October volatility?
Replies
0
Views
328
tsptalk
tsptalk
Back
Top