Bquat's Account Talk

[Bquat]

Ok, this market is trying to scare me. We now have two bottoming tails, so let's go up now! I will be staying in today. Nothing is broken and todays action got me to change the new channel again. Chart brought to you by: I'llRedraw itOverUntilIt'sRight.com

 

[Bquat]

Quick post deadline chart before I go. Yea I redrew and have about a 2% channel. As always, I'm not wrong until I am.:notrust:

 

[Mapper]

Redrawing is akin to tweaking. Sometimes takes awhile to get it just right. Hope this one works. Thanks again for all your work!

Here goes; 5 or 13day holds and we begin a push for the top of the channel at some point tomorrow. If today ends flat to down we get a gap up on the open tomorrow. That's my prediction, my predictions usually aren't right...but hey, maybe this time!

Edit: Actaully, the 5, 13 and 20 are all grouped pretty tight...I imagine that's a good reason you placed the lower line of the channel. In any case...that looks pretty solid! MAY just take a chance on it by adding some TNA :worried:

 

[Bquat]

Redrawing is akin to tweaking. Sometimes takes awhile to get it just right. Hope this one works. Thanks again for all your work!

Here goes; 5 or 13day holds and we begin a push for the top of the channel at some point tomorrow. If today ends flat to down we get a gap up on the open tomorrow. That's my prediction, my predictions usually aren't right...but hey, maybe this time!

Edit: Actaully, the 5, 13 and 20 are all grouped pretty tight...I imagine that's a good reason you placed the lower line of the channel. In any case...that looks pretty solid! MAY just take a chance on it by adding some TNA :worried:

Yea :worried:. Were in the battle area between buying the dip or selling the news or between Bullish or Bearish. The little ones are napping and they'll prabably behere for the post market review.

 

[Mapper]

I think you nailed it my friend. Intra day low was (AT THIS POINT) right at your lines. I only wish I had been patient enough to wait for 1390 before making my TNA purchase. It's always a gamble, we could break through and sink tomorrow...but my bet is placed.

 

[Birchtree]

We could have lousy job numbers tomorrow and the market will rally because the future is going to get better in 7 months.

 

[Mcqlives]

I think you nailed it my friend. Intra day low was (AT THIS POINT) right at your lines. I only wish I had been patient enough to wait for 1390 before making my TNA purchase. It's always a gamble, we could break through and sink tomorrow...but my bet is placed.

Agreed, 1388 is still my line in the sand!

 

[Bquat]

Agreed, 1388 is still my line in the sand!

Thanks and there's nothing to be said post market. Coin toss, we're right there.:notrust:

 

[Mcqlives]

Thanks and there's nothing to be said post market. Coin toss, we're right there.:notrust:

And the scary thing is...I see a sell point on the top side (for me anyway)...but when I start drawing target bottoms I just don't find many buy-back-in points that I feel are strong bases to build from. Feels like we are climbing steep steps and then rolling down the wheel chair ramp next to it!

 

[Bquat]

Here's some longer term channels. Bluegreen 25% channel, blue 5% channel and the white 2% channel. Hay did you guys see the 5 day jump up at COB when it dropped the dip on the 24th and 25th of April. Plus if you had bought in 2009, buy and hold would be working for you.

 

[Bquat]

Did those help you?

 

[Mcqlives]

Yep...Thanks, as always for the charts!!!. They are pretty much what I had been tracing out. If things go bad there are a few steps in there but the first real floor I see is around 1160. There are a couple of stop off point where money could be made around 1260 and 1220 with even higher, but much less resistance, points around 1342 and 1316.

What I am getting at is, even though the overall trend and momentum are up, and I am hopeful that we keep going that direction, I can't see us breaking the 1480ish point with the worlds economies struggling so much. Even getting to that point is turning into a real struggle after the first couple of months moving so far so fast. If we don't get some stronger movement to the top side, and we get some bad news not factored for, we could slide real quick. I know that this is being Mr. Obvious but if you look at all the the indicators (momentum, VIX, ISM, transports, dollar, etc) it won't take much to go up or down...and there is a lot more room to the downside resistance levels than the upside.

As for the upside, we haven't been able to get over the 1422 mark and I did not think that would be much of a resistance point going up (show how wrong I can be). And remember, 1422 is still 130 or so points from the all time high.

I'm sticking with my 1388 line but preservation mode is starting to appeal to me more and more.

 

[Mapper]

I'm sticking with my 1388 line but preservation mode is starting to appeal to me more and more.

Agree, I'm willing to gamble a little bit on some potential upside, but I'll likely move my short/intermediate term instruments to safety if the channel breaks down.

 

[Mapper]

fiddlesticks!

 

[Mcqlives]

Agree, I'm willing to gamble a little bit on some potential upside, but I'll likely move my short/intermediate term instruments to safety if the channel breaks down.

Yep...but now 1372 appears to have held. Maybe the trend is safe? at least intermediate? Short term is already over with...now we have to figure in next weeks action.

 

[Bquat]

Yep...but now 1372 appears to have held. Maybe the trend is safe? at least intermediate? Short term is already over with...now we have to figure in next weeks action.

Well, I took a big bite of that bad apple. Now I have towait for a kiss from a princess or maybe a frog.

 

[Bquat]

Ok, let's flip it. Isn't this an Inverse Head and Shoulders?

 

[Kaufmanrider]

Ok, let's flip it. Isn't this an Inverse Head and Shoulders?

Is the head supposed to be lower than the left and right shoulder?

[h=2]Definition of 'Inverse Head And Shoulders'[/h]A chart pattern used in

technical analysis​

to predict the reversal of a current downtrend. This pattern is identified when the price action of a security meets the following characteristics:

1. The price falls to a trough and then rises.
2. The price falls below the former trough and then rises again.
3. Finally, the price falls again, but not as far as the second trough.

 

[Bquat]

Is the head supposed to be lower than the left and right shoulder?

Definition of 'Inverse Head And Shoulders'

A chart pattern used in

technicalanalysis​

to predict the reversal of a current downtrend. This pattern is identified when the price action of a security meets the following characteristics:

1. The price falls to a trough and then rises.
2. The price falls below the former trough and then rises again.
3. Finally, the price falls again, but not as far as the second trough.

Well I guess I'm looking for any kind of support right now and it doesn't seem like the elections overseas will help either. So I'm just drawing a few support lines.:worried:

 

[MaStA]

Futures look horrible currently...this sucks...