Frixxxx
Moderator
- Reaction score
- 131
Well, just from the pop, then fizzle occurring, I think we're still sideways for a bit....
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Bquat's Account Talk
- Thread starter Bquat
- Start date
Well, just from the pop, then fizzle occurring, I think we're still sideways for a bit....
Bquat
TSP Talk Royalty
- Reaction score
- 603
Yes, probably sideways in the red/blue channel. Maybe not. Got the H&S and the double top. These should be bearish.:worried: Went from upper channel to lower channel.
This way you can decide.
Bquat
TSP Talk Royalty
- Reaction score
- 603
Sorry guys out of pocket this morning, couldn't chart. Double top red line. Price range still intact. Second test of 11 day as support fails. Getting ready for test from below. If we can't retake it, we should sell off more. Dip buyers have been buying up to the 5 day so there's still hope for the bulls. I have redrawn the trading channel to a 1% range. So watch nothing is broken yet but I'm not jumping in either. We are below the channel and may have a failed head test of the H&S (maybe).:worried:
Bquat
TSP Talk Royalty
- Reaction score
- 603
Due to the H&S projected loss and the "Flat tops big market drops", I am switching back to my original switch line and maybe the dark blue line 38.2 Fib. I don't think we'll drop to the 50 day but it could happen.:worried: I be thinking with the sideways consolidation and todays drop is almost enough.:suspicious: The 50 day would be a good right shoulder for an inverse H&S. 1740 or 1720 Plenty of room in this thread for better guesses.
Bquat
TSP Talk Royalty
- Reaction score
- 603
With major stores and others adding 12 - 18 hours to black Friday, I'm expecting sales to out due last years. It will look like solid gains to the market. So I would like to be in by Thanksgiving. I think the market will pop until they figure gain / increased labor costs for overtime. I figure 40/30 just to show 15% profit at 12 % added cost. If they can hide costs.:suspicious:
Bquat
TSP Talk Royalty
- Reaction score
- 603
Here's some support and resistance lines for you. This may be a jobs report pop or DCB and may go back down after most traders realize this increases the chance for QE wrap up.:worried: Also, unless we get another 1% gain above this, this will be a lower high. We'll have to watch because this is still a QE supported market.:notrust:
Bquat
TSP Talk Royalty
- Reaction score
- 603
Boy that didn't happen. I'm at a lose. Guess I got used to the reverse the news market. Ok, you tell me.
Thought for sure we had a M pattern.:embarrest:
Bquat
TSP Talk Royalty
- Reaction score
- 603
Got the bigger move. Now to retest the top of the channel from below.We are coiling up for bigger move. Should brake in direction of trend. The question is the move up or channel trend down.
Bquat
TSP Talk Royalty
- Reaction score
- 603
With this strength, I may follow the Good Fed News channel. I am still worried about tapering concerns but many are say that will effect bonds and equities may be the only place to be. Anybody agree? I'm in pause mode so far for another day but could be convinced otherwise.:notrust:
Bquat
TSP Talk Royalty
- Reaction score
- 603
I'm getting real itchy about maybe reentering with seeing a inverse H&S following the 11 day but a lot of times my itch isn't trustworthy.:notrust:
Bquat
TSP Talk Royalty
- Reaction score
- 603
Maybe these guys are starting to see what I see. Tracker moves seem bullish. TSP Talk AutoTracker This is the first time I looked in a while.
