Bquat's Account Talk

[Bquat]

So on the redraw is this a bear flag off the new longterm or a small bull flag off the midterm::blink:

 

[tsptalk]

Any thoughts on the upcoming Debt Ceiling decision deadline and how that will sway the market one way or the other??? I'm confident that they will pass whatever they need to so we do not default, so will we get a positive or negative market reaction from that? It doesn't take much to freak out investors and send them running to safety, even if it appears to be good news.......

House adopts bill opening door for lawmakers to raise debt ceiling, after Democrats, Republicans strike deal

https://www.washingtonpost.com/us-policy/2021/12/07/democrats-republicans-debt-ceiling-deal

 

[rangerray]

So on the redraw is this a bear flag off the new longterm or a small bull flag off the midterm::blink:

I'm hoping the answer to your question is mid-term.

 

[Bquat]

Testing last resistance line as support:

 

[Bquat]

Playing with higher low for Midterm (Bear Flag?) and deciding that gap is filled: :worried: Just my guess

 

[Bquat]

Things are looking weaker but there might be a chance this is a flat bottom developing::cheesy:

 

[Bquat]

Things are looking weaker but there might be a chance this is a flat bottom developing::cheesy:

Longer top tail this morning. I hope this bottom holds up: :worried:

 

[Bquat]

Below the rectangle so I dropped it. Testing previous bottom tails for support::worried:

 

[Bquat]

Spidey is thinking 60/40 down channel continues. Me "the coin is in the air"::blink:

 

[rangerray]

Spidey is thinking 60/40 down channel continues. Me "the coin is in the air"::blink:

I think the market is looking for a reason to rally.

 

[Bquat]

I think something just happened in the news at 2pm

 

[Bquat]

Below the rectangle so I dropped it. Testing previous bottom tails for support::worried:

Fed news had everything investors wanted too here (scripted?) so back in the box we are. Small bear flag: :suspicious:

 

[Bquat]

No move for me. Chart: :blink:

 

[rangerray]

Yea, I was just going to ask, if not for that gap, maybe one could force himself to see a bull flag formation here? Perhaps 5 or 6 sessions isn't enough for a proper "flagpole"?

 

[Bquat]

Yeah, the gap changed it for me too. Good comment, I didn't go with the bull flag because the Fed news is the only thing that made it change direction.

 

[Bquat]

Yeah, the gap changed it for me too. Good comment, I didn't go with the bull flag because the Fed news is the only thing that made it change direction.

Now the news was rejected

 

[Bquat]

Now the news was rejected

Fed news pop was rejected today with Bearish Engulfing Candle bringing us below the rectangle again. Are the bottom tails support? :worried:

 

[Bquat]

Subdued the rectangle and the bottom tails do look like support. Still playing with the Midterm downtrend::cheesy:

 

[Bquat]

Subdued the rectangle and the bottom tails do look like support. Still playing with the Midterm downtrend::cheesy:

Bottom tails line now tested as resistance. Spidey sense is concerned::worried:

 

[Bquat]

Things looking better but I still don't trust this new up move yet. Possible Bear Flag developing::blink: