We may start with that 1% pull back today.5 day should act as support.
bquat
you mentioned that we may start with a 1% pullback, are there strong indicators showing more to come? CURIOUS MINDS NEED TO KNOW ON THIS MB, THANKS ALL
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- Thread starter Bquat
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bquat
you mentioned that we may start with a 1% pullback, are there strong indicators showing more to come? CURIOUS MINDS NEED TO KNOW ON THIS MB, THANKS ALL
Bquat
TSP Talk Royalty
- Reaction score
- 395
If we don't break back up into the channel, this we establish a lower low and we should go down to the blue line and maybe more later. But I think buy the dip will happen.
I've been wrong before.
:notrust:
Kaufmanrider
Analyst
- Reaction score
- 17
Bquat:354302 said:
Good luck.
Bquat
TSP Talk Royalty
- Reaction score
- 395
Now that I'm locked in for today, I customized the chart to still look bullish for little bull. He want yellow to show the channel supported by the 5 Day.
Well little bear says with this lower low we could retouch the 13 day.
My worst case is the blue line, I hope. A bounce up again and an up move from the 5 day would be nice.:worried:
Think I got everybody.Todays charts brought to you by on the run charting system and Freestockcharts.com
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MrJohnRoss
Market Veteran
- Reaction score
- 58
Good post. Listen to NASA. Folks in F may have already been ejected out of their seats.
Bquat
TSP Talk Royalty
- Reaction score
- 395
A lot of people are flipping a coin right now. Since we're above the 5 day, I choose hmmm... up. But, I would be watching early tomorrow because even though the 5 day held we had a lower low and a hammer patern form. Drawing a parallel line from the top of the channel and toughing the bottom of todays pattern omitting the over shoot, we still have a moving up channel. It's like 50% trending up and 50% consolidation. I could be too bullish and this could be a bear flag or a high base not able to reenter the last channel. The dimmer yellow was what I had as the bottom before. Eyes open and we watch in the morning.:notrust: As always contrarian remarks welcomed because my mojo is weak lately.
Birchtree
TSP Talk Royalty
- Reaction score
- 143
Mcqlives
Market Veteran
- Reaction score
- 24
Your blue line is my pick for a bottom of the broader channel. As long as that holds we will get higher highs. I just wish I had not gone into preservation mode so quickly. Not only did I eat a 2% loss I missed out on over 1% of the gain. At least I am still positive for the year by a nice margin!
Bquat
TSP Talk Royalty
- Reaction score
- 395
I probably convinced you to do that.:embarrest: This time I'm holding while were in the same position and hoping we don't lose if the drop isn't bought. Took tails on the coin toss last time and lost. Taking heads this time. I do like the sideways movement and hope it's consolidation with a slight profit taking.
Bquat
TSP Talk Royalty
- Reaction score
- 395
I brought back the midterm 13 day channel (doesn't look like it on the 1 hr.) and the bottom of the 5 day for mid term perspective. Used the longer time frame to see the channel. Then reshowed it in the current 30 min. time frame that I use. I hope we get buying like last time. I messed up last time. Hope I didn't mess up this time taking the oppisite approach. What you guys think am I too bullish? This is a good dip if that's all it is. Need a 1.25% bounce from here.
Mcqlives
Market Veteran
- Reaction score
- 24
I probably convinced you to do that.:embarrest: This time I'm holding while were in the same position and hoping we don't lose if the drop isn't bought. Took tails on the coin toss last time and lost. Taking heads this time. I do like the sideways movement and hope it's consolidation with a slight profit taking.
Bears are in control for the day but the broader channel is still holding...maybe a new floor here for a climb up? Even if this line fails my next is 1380...not too much lower. I'm taking the risk and staying bullish for now.
Bquat
TSP Talk Royalty
- Reaction score
- 395
Me too. I follow you this time. Showing 3% correction, so now let's go up.
I'm staying in.
Bquat
TSP Talk Royalty
- Reaction score
- 395
Tracker just went bullish. I see a bull flag, so let's go.Right after IFT deadline
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crommie
Market Tracker
- Reaction score
- 6
Me too. I follow you this time. Showing 3% correction, so now let's go up.
I'm staying in.
I must be missing something or are you using that new math or something? :suspicious:
High on Monday was almost 1414, low today (so far) was almost 1389: 1414 - 1389 = 25/1414 = 1.77% correction (so far)...
Bquat
TSP Talk Royalty
- Reaction score
- 395
Little Bull says if we get real bullish from here we can do a repeat pattern to 1440ish.
Now that would be nice but I can't be that bullish. It's just some Birchism comming out.
Sometimes I see patterns that may not be there, but we can dream. Some say a wave 5 high before the top is set (speculation).:suspicious:
Mcqlives
Market Veteran
- Reaction score
- 24
I must be missing something or are you using that new math or something? :suspicious:
High on Monday was almost 1414, low today (so far) was almost 1389: 1414 - 1389 = 25/1414 = 1.77% correction (so far)...
Talking potential corrections within the larger channel.
Bquat
TSP Talk Royalty
- Reaction score
- 395
Little blue green lines about 1% each from top of channel to bottom.Maybe my 1% lines are off?:embarrest:I must be missing something or are you using that new math or something? :suspicious:
High on Monday was almost 1414, low today (so far) was almost 1389: 1414 - 1389 = 25/1414 = 1.77% correction (so far)...
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