Bquat's Account Talk

[Bquat]

Playing with some levels. Chart:

Chart:

 

[rangerray]

If that gap fills sooner rather than later and there is still a whiff of a rally in the air, it might be an opportunity to buy a little. This has been the most frustrating rally I've ever watched from the sidelines.

 

[Whipsaw]

If that gap fills sooner rather than later and there is still a whiff of a rally in the air, it might be an opportunity to buy a little. This has been the most frustrating rally I've ever watched from the sidelines.

That's my plan RR! I'm with you on the rally, FWM nailed it, I'm catching a piece of the action.

 

[Bquat]

My first little blue line is working but we'll see: :notrust:

 

[Bquat]

Channel ok no real damage as of yet. Chart:

 

[Bquat]

Playing with channels and main support lines. Another free chart from IGuess.com: :cheesy:

 

[Epic]

What's Spidey saying??? Is he freakin out??

 

[nasa1974]

I guess it is better to fill the gap now then later. Ugly way to finish the week.

 

[Bquat]

What's Spidey saying??? Is he freakin out??

No he is fine until the spot where the blue arrow is violated

 

[Bquat]

No he is fine until the spot where the blue arrow is violated

My blue arrow was violated so we are below my Midterm and where I was expecting it to hold. Spidey is awake but not jumping around. Just concerned and watching. No move for me like I was expecting. This is an acceleration in the downwards momentum: :blink:

 

[Whipsaw]

Did it gap down over the previous gap?!! Does that mean the gap is still open? Or is the old gap closed and a new gap has opened? The new gap is the same as the old gap, its a wash. But if the old gap drew the market down, does the new gap act to draw the market up? Then it has to be a new gap. Right? :hmmm:

 

[rangerray]

Did it gap down over the previous gap?!! Does that mean the gap is still open? Or is the old gap closed and a new gap has opened? The new gap is the same as the old gap, its a wash. But if the old gap drew the market down, does the new gap act to draw the market up? Then it has to be a new gap. Right? :hmmm:

My opinion is that the previous gap did not get filled and we now have a new gap too.

 

[flalaw97]

No he is fine until the spot where the blue arrow is violated

Looks like a blue arrow day.

 

[nasa1974]

Now it will take a green candle to fill the GAP instead of red one. Unless we get a green candle that starts above the GAP then it will take a red one to fill it.
:1244::1244::1244:

 

[Bquat]

Since the gap got gapped over it's a spark gap that is not necessary going to be filled quickly (just my guess). Spidey is somewhat worried that the bottom of my Midterm acted as resistance. The odds are 60/40 we test the 100 DMA but being a declining 100 DMA it's 50/50 on being support. The bottom of the green candle should help it to hold: :worried:

 

[Bquat]

How did you like the spark gap theory? :cheesy:

 

[Epic]

I actually searched out "Engulfing Gap" and found nothing that resembles your current chart or any reference to something like this happening before. Maybe it's no big deal, so it's not worth making note of. :dunno:

 

[Bquat]

I actually searched out "Engulfing Gap" and found nothing that resembles your current chart or any reference to something like this happening before. Maybe it's no big deal, so it's not worth making note of. :dunno:

I have seen the market re-gap a level several times before on the way down It might just be where there's an auto buy or auto sell at a certain price level in a lot of trading programs is my guess.

 

[Bquat]

Are we in a trading range which is trying to be supported to stop the drop? Can it just be a consolidation pattern before more selling? Little top tails just below the gap: :blink:

 

[Epic]

I have seen the market re-gap a level several times before on the way down It might just be where there's an auto buy or auto sell at a certain price level in a lot of trading programs is my guess.

Awesome. Thanks !!