Bquat's Account Talk

[Bquat]

If the up direction does't increase happen soon, I have to change the color of my flag. Watering done and having a break before honey do's start.

 

[Bquat]

Chance for one more push here and then the big chance of a double top because we're comming to the last peak at the top of a big move. And again we have 40 min. to see the move.

Is this close enought for a double top? Doesit have to be on the highest peak or will a previous peak do?:worried:

 

[Bquat]

The last chart may be a doubble top and the market goes down. But under Birchism it could be a cup and handle. Make the handle and off to the races. Again with the both sides thing? Yes you guys tell me. Both are possible. Christian say don't trust the rally and Brion says it could be cup and handle. Let me know before Monday ok guys. Charts by ThisisaFreeChartservice.SoYouDecide.com

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[Sensei]

How about no handle, no cup, no conformity to any of the chart patterns we typically watch, and just a steady burn up to 1425 while the bears wring their hands and post angrily on TSPtalk? Hey, that reminds me - what happened to RMI?

 

[Birchtree]

Simply superlative. July is going to rock. Remember it's an election year.

 

[Bquat]

Very quiet on the board so far. So here's my charts. Comments welcomed. I didn't take the parallel line to the top white line all the way to the bottom because I think it might be more relivent where it is.

 

[Bquat]

With the market only moving down slowly, this increases the chance of it not being a double top and it may be the cup and handle.

 

[Mcqlives]

With the market only moving down slowly, this increases the chance of it not being a double top and it may be the cup and handle.

Perhaps. EU surprised me last week. What do you think Friday will do to the market?

 

[Bquat]

Perhaps. EU surprised me last week. What do you think Friday will do to the market?

Ha if I knew that I would be doing a lot better.:notrust: Ok if I venture a guess? I think a little side ways movement with a slight movement up while traders may just take a 5 day holiday. Most people will not out guess the job report. The market will react in the direction of the job report as a catilyst. Oscar says friday's action was a holiday reversal. I think it was an over reaction to good news after the daily grind day after day about Europe. I think big money has had enought time to lessen the effect of Europe over the last 3 years. There is a lot of negative speculation made up because big investors want QE3 to happen so it will be a windfall to them. Just my thoughts.

 

[Bquat]

Testing resistance now.

 

[Birchtree]

The short hairs are going to give us a throw over....

 

[Birchtree]

If I were out on a short position my head would be popping off with anxiety - they'll begin to cover big time on 7/5 and push the SPX right over the top at 1395.

 

[Bquat]

If I were out on a short position my head would be popping off with anxiety - they'll begin to cover big time on 7/5 and push the SPX right over the top at 1395.

I'm not that Bullish yet my friend. Come up with this when I'm back in. I still think there's a little dip comming before another jump. And thanks for keeping my thread going today.

 

[Mcqlives]

Where is everyone today? Hope this finds you and yours well. As for the markets...if things pull back like I think over the next few days I may actually jump in. What are your charts showing today?

 

[Bquat]

Where is everyone today? Hope this finds you and yours well. As for the markets...if things pull back like I think over the next few days I may actually jump in. What are your charts showing today?

Looks like a nice high base consolidation with losing Tuesday's gains and heading back up, but we can get a little double top because I don't see too much strength.:notrust:

 

[Bquat]

Member this. It still could happen.

 

[Bquat]

Had to redraw my support line. If we go down, it will be to 1346ish for support. I really don't think we'll see 1330, but with a bad jobs report it could happen. There may be a sell off into the report to cover bases.:worried:

 

[Bquat]

Had to redraw my support line. If we go down, it will be to 1346ish for support. I really don't think we'll see 1330, but with a bad jobs report it could happen. There may be a sell off into the report to cover bases.:worried:

Well it's happening. I made a orange parallel line to show where the correction should stop or at least slow down and the blue line is my support line that may stop the handle for the cup and handle. I think I am charting a little better again.

 

[Bquat]

My line is now being tested as resistance.

 

[Mcqlives]

Well it's happening. I made a orange parallel line to show where the correction should stop or at least slow down and the blue line is my support line that may stop the handle for the cup and handle. I think I am charting a little better again.

I like it...but 1351 is that no mans land for me. I would have liked to see a bounce at 1346. Which way do we go?