Bquat's Account Talk

[Bquat]

Plus the highs this morning are getting lower on each leg...I don't feel like spinning the wheel either.

It's forming a triangle and building up for a good move here but I have no clue as to which direction.

 

[jpcavin]

It's forming a triangle and building up for a good move here but I have no clue as to which direction.

Can you post what you guys are looking at?

 

[Bquat]

Can you post what you guys are looking at?

At each other. No not really. What I'm looking at is the S&P 500 daily graph and seeing lower highs and higher lows coming to a point and this is a coiling effect until the bears or bulls win and it should pop in on direction or the other and since we are on top of resistance I think the bull might win and will 1185 hold?

http://investing.money.msn.com/investments/market-index/?symbol=$us:INX

 

[Bquat]

I need to type faster.

 

[Murphys_Law]

At each other. No not really. What I'm looking at is the S&P 500 daily graph and seeing lower highs and higher lows coming to a point and this is a coiling effect until the bears or bulls win and it should pop in on direction or the other and since we are on top of resistance I think the bull might win and will 1185 hold?

http://investing.money.msn.com/investments/market-index/?symbol=$us:INX

I agree with you Bquat, I believe we need to hold 1180 for a bullish sign.

 

[jpcavin]

At each other. No not really. What I'm looking at is the S&P 500 daily graph and seeing lower highs and higher lows coming to a point and this is a coiling effect until the bears or bulls win and it should pop in on direction or the other and since we are on top of resistance I think the bull might win and will 1185 hold?

http://investing.money.msn.com/investments/market-index/?symbol=$us:INX

Oh...and where it goes, nobody knows before noon cutoff! Figures!

 

[Happy_Trails]

Are you bailing, Bquat?

 

[Bquat]

Are you bailing, Bquat?

Haven't even got in yet and not going to enter today? I'm just chicken lately. See post about Fridays.

 

[Happy_Trails]

Oh, I though you were already back in. Sorry. I'm lightening up to 50S, 50G. Live to fight another day.

 

[Mcqlives]

I'm not getting in today either. The W is solid but I have missed out on this 4th leg. Now what is a good entry point? I am not sure where the 1185 figure comes in. I am looking at the 1200 mark myself as the ceiling resistance. Oh, well, I'll wait till monday! Have a great weekend!

 

[Bquat]

1185 was the peak just before my post. What was kind of weird was that 1180 offered little resistance on the way up after the triangle of lower highs and higher lows. The S&P shot up over 1180 and stopped at 1188 ( not a resistance point ), didn't even get to 1200 (a strong resistance point) and failed then set a lower high and the went lower to fail twice at 1180 at the end of day. This looks weak to me especially after yesterday. Well here are support points going down. Looks like bear flag.

http://finance.yahoo.com/q/bc?s=^GSPC&t=3m&l=on&z=l&q=c&c=

1295 Resistance
1257 Resistance
1243 Resistance
1235 Resistance
1225 Resistance
1220 Resistance
1200 good Resistance
1180 good Resistance
1173 support
1140 Support
1120 Support
1100 Support
1050 Support
0900 Good Support

 

[Bquat]

Oh, I forgot to put in 1157. It's an important spot because we'll see new lows if we break it, according to Brian at ALPHA Trends. We also been having 1/2 of the volume going up as gowing down, so this is still may be decending market and we should bounce down off 1200 if we reach it.

http://www.alphatrends.net/

1295 Resistance
1257 Resistance
1243 Resistance
1235 Resistance
1225 Resistance
1220 Resistance
1200 good Resistance
1180 good Resistance
1173 support
1157 support
1140 Support
1120 Support
1100 Support
1050 Support
0900 Good Support

 

[Mcqlives]

Oh, I forgot to put in 1157. It's an important spot because we'll see new lows if we break it, according to Brian at ALPHA Trends. We also been having 1/2 of the volume going up as gowing down, so this is still may be decending market and we should bounce down off 1200 if we reach it.

http://www.alphatrends.net/

1295 Resistance
1257 Resistance
1243 Resistance
1235 Resistance
1225 Resistance
1220 Resistance
1200 good Resistance
1180 good Resistance
1173 support
1157 support
1140 Support
1120 Support
1100 Support
1050 Support
0900 Good Support

I had not even looked at 1157 other than a mid point in the current channel. Alphatrends has a good analysis and they are definitely one to watch but I am still more concerned with the broader channel of 1200 down to 1120.

As always, I like your SPX summary of support/resistence points. Thanks!!!

 

[Mcqlives]

OK...what a great day! In the pool with the kids, did some fix ups around the house, my lovely wife made lasagna, garlic bread, salad and wine for dinner...sometimes it feels like I am royalty...and then I did some research this evening that tells me I should be glad to be in the G over the next several trading days.

My guess is this, Monday will bring some profits (at least intraday for those holding specific stocks like Birch), possibly a break above 1200 and maybe even an intraday run up to the 1210-1220 range, but this will be the last of nice days for a few. Once a bunch of money flows in the bears are taking control and we will see a lower low...I hope that your 1050 mark is the low but if I am right we won't see that for several trading days which is is too far out for me to even guess at. Of course, who knows what surprise the EU will bring before our markets open on Monday.

Enjoy the rest of the weekend!

 

[Bquat]

OK...what a great day! In the pool with the kids, did some fix ups around the house, my lovely wife made lasagna, garlic bread, salad and wine for dinner...sometimes it feels like I am royalty...and then I did some research this evening that tells me I should be glad to be in the G over the next several trading days.

My guess is this, Monday will bring some profits (at least intraday for those holding specific stocks like Birch), possibly a break above 1200 and maybe even an intraday run up to the 1210-1220 range, but this will be the last of nice days for a few. Once a bunch of money flows in the bears are taking control and we will see a lower low...I hope that your 1050 mark is the low but if I am right we won't see that for several trading days which is is too far out for me to even guess at. Of course, who knows what surprise the EU will bring before our markets open on Monday.

Enjoy the rest of the weekend!

I kind of looking at S&P 700. I took a look at the S&P chart over the period of Jan 97 to now and it looks like a giganic MA pattern. I don't know if they work over that long of time frame. I see us on the downside of the A unless we make a new high. There's a 95% chance that the right leg of the A will complete at 700. I would of provided a simple graph of it but MSN graphs only go to Jul 8th.

Anyone know if this MA pattern will work over such a large tiime frame. I could be completely wrong or not.

 

[Bquat]

Well hear we are at 1200 a good resistance point, a place where some say are their exit to limit their losses, a point where some say they will enter if it is broken and try to reach 1257, and here I am at the edge of the pond with a stick touching my but trying to make me jump. Last weeks movement has me freaked with the up and downs. Friday looked different and today looked bullish and my negate the possibility of a bear flag.

Well, let's make coffee and just sit here and watch an hour and then check the tracker and see the guys you believe in get in or protect losses.

Nobody got back with me about the MA pattern, so ? Coffee is ready, To get cup I go, yes?

 

[Bquat]

Well 1200 held so far. Checked the tracker and it 50/50 with getting out and getting in.

http://www.tsptalk.com/tracker/tsp_user_record_all.php

Asked JTH for a nudge or to poke me and this lilly pad is getting confortable.

Nead a good nudge now.:suspicious:

 

[Mcqlives]

I'm with you waiting to see. I read your MA post and see what you mean...I just hope you are wrong. When I tried to research it further I ended up with more questions than answers so I did not respond. I am still really concerned with the fundamentals and so, for this minute at least, am staying bearish.

 

[Bquat]

Wow at least it showed it's colors before IFT time. More weakness after the 1200 held and even if it goes back up there's more of a chance of an intraday H&S or double top and I won't buy be buying a dip under 1257. Good luck guys I'm staying out today and finishing my coffee.

 

[Bquat]

Staying out won't buy weakness or dips under 1257. We broke under 1200 and may go down more.