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Bquat's Account Talk
- Thread starter Bquat
- Start date
Bquat
TSP Talk Royalty
- Reaction score
- 603
If you look at the yellow Higher High line the angle of ascent looks like it's increasing to the up side. This is kind of what I noticed on JTH's weekly also.
Bquat
TSP Talk Royalty
- Reaction score
- 603
Less nervous.
Mcqlives
Market Veteran
- Reaction score
- 24
I like the ladders again! I would like to see a switch line bounce tomorrow and then continue up. You could be right though, this could be gaining momentum. If that is the case then the holidays could be huge this year!
Bquat
TSP Talk Royalty
- Reaction score
- 603
There you are. I missed your posts. A drop to the switch line and back up may be good for the markets normally, but I don't wish to break the ladder. It's a bullish thing until it breaks and sometimes it breaks hard. In reality it's a bear flag with staying power. That's why I thinking to redrawing a higher switch line, maybe the light blue or last peak to bottom of gap. What's your guess? As for holidays, there may be a big switch in employment.:worried: There could be a greater numbers of part timers hired under the holiday part-time hiring and a cut of full-timers after the holidays. (Just my guess, I have no concrete evidence).
Last edited:
Mcqlives
Market Veteran
- Reaction score
- 24
In reverse order...
-Holiday guess is the same as mine. Part time vs full time won't make any difference till January reports so the markets should like the news till then.
-Higher switchline trend with bottoms is where I would like to see a bounce...say 1729ish?
-I don't want to see a break...just a slight retractment then additional consolidation before another leg up.
Things have been real busy with family so, unfortunately for my pocketbook, this hasn't been a high priority for me.
Bquat
TSP Talk Royalty
- Reaction score
- 603
I understand, just post once in a while so I don't miss you.
Bquat
TSP Talk Royalty
- Reaction score
- 603
May have got to the 1% too soon today. Keep an eye out. At least the market realized there was a rung there. I hope it gets back above it and tests it from above and holds. Being too bullish at the start of the day, could be an exhaustion move.:worried:
Bquat
TSP Talk Royalty
- Reaction score
- 603
Got that but downside is not as bad as I thought, yet.:worried:
Bquat
TSP Talk Royalty
- Reaction score
- 603
No your right and as always better at picking direction. I did exit with the weakness. Doing somewhat better. You can have the bounce.
Bquat
TSP Talk Royalty
- Reaction score
- 603
1729 would be a better bounce spot. We cower the gap at that point. But things may not be broken until the purple line is broken. I bailed with weakness because this is really the only gain I can protect this year.
I'm thinking we're broken or other shoe drop syndrome. Something like that. We're up with continuing QE and that can't be sustained. I'm generally wrong thinking that. Bad economy news is good news.
Bquat
TSP Talk Royalty
- Reaction score
- 603
Left of the peak this level was a high base. Right of the peak this level is a low base. Still using the top of the purple channel as support, so this may just be sideways consolidation. Need to reenter the white channel soon for those that remain it. Nothing looks really broken being above the rising 5 day. I may have got spooked early but Halloween is coming up.
