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Bquat's Account Talk
- Thread starter Bquat
- Start date
Bquat
TSP Talk Royalty
- Reaction score
- 607
Not so fast buddy. First I show my bearish stuff and then because of what I wrote, "If it breaks I may have to make a new channel." I do a Birchish one.
Bquat
TSP Talk Royalty
- Reaction score
- 607
Ok, here's a couple of charts from ParanoidChart.com . See the purple arrow and purple line. This is the PPT buy line. Silently they silently bought each time it dropped below the purple line. This is the only thing that makes sense since the market didn't correct after this weakness.
In the other chart I show that the PPT must have done a double buy. One to stop the falling and another when it failed not to get over the purple line. The red circle shows where there buying lost to the bears and the support line became resistance again. So do we retest it and fall if it holds tomorrow? I think that may happen because it's the first time starting below support. What do you guys think?
In the other chart I show that the PPT must have done a double buy. One to stop the falling and another when it failed not to get over the purple line. The red circle shows where there buying lost to the bears and the support line became resistance again. So do we retest it and fall if it holds tomorrow? I think that may happen because it's the first time starting below support. What do you guys think?
Bquat
TSP Talk Royalty
- Reaction score
- 607
For Birch. We may have gone from a bear flag to what may be a symetrical triangle and sinse it normally breaks out with the trend and the fact were in a high base, this is bullish. Now can we take the end of day move back up as bullish? Now you have both sides and even though I think it's being falsely supported, they may have succeded and kept the market trending up.:notrust: The morning move will tell. So you guys go with the chart by BirchChart.com or the one from ParanoidChart.com ?I go with the paranoid chart after looking at them, I think it was a failed move to get back above support.
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Bquat
TSP Talk Royalty
- Reaction score
- 607
Sorry guys just got here. Well on a quick look I'm seeing dips are being bought. I don't know if it's the Plunge Protection Team but something is keeping us up. I'm still thinking the bears are trying to win but you know if they keep buying dips things could change? So I'm using PPT purple and the dark purple is the buy point for them.:notrust:
I'm still thinking the bears are trying to win but you know if they keep buying dips things could change? So I'm using PPT purple and the dark purple is the buy point for them.:notrust:
Bquat
TSP Talk Royalty
- Reaction score
- 607
Here's the confusing issue. The bottom tails are getting longer than the topping tails. This is normally bullish but the bottom tails are being bought at lower levels and were still setting lower highs and lower lows. It just seems to me this market is being manipulated to stay just above the top of the white channel. So are we bearish with a silent bull push. I don't trust this until I may have to.:notrust:
Bquat
TSP Talk Royalty
- Reaction score
- 607
You can change opinions right now somebody is buying for you.
Bquat
TSP Talk Royalty
- Reaction score
- 607
Market direction has been slightly confusing to me, I have to admit. So did we turn bullish or did PPT do several silent buys to keep the market bullish? I was expecting a pull back. The action of the last few days did look to me like a silent QE3 and I can be wrong here but it seemed that every time we dropped below the top of the old channel (light blue line now) there was a buy spike and Friday there was four.
Maybe there is some silent buying. Maybe not.:notrust: So here's the charts:
White channel seems to be parallel with the 20 day and is the tops line with a drawn in parallel line for the bottom.
Yellow channel is a top, double bottom and the new top creating a double top. Bearish?
Thin red channel is friday's bull channel from the dip to the double bottom to the double top.
Red line is last higher peak and thin red line is the peak before the last high peak. So was the sideways consolidation all we're going to get and we go to the higher high or do we bounce down on the double top like we bounced up on the double bottom.
1407 go bullish
1418 go Birchish
1394 bearish
1386 bounce or 1373, 1364, 1350-53ish, then cliff
As always agreeing with my lines are always welcomed, but any contrary comments are always welcomed to keep me from missleading. Keep the team effort going.
So hope this helps and watch the yellow channel Monday.
So did we turn bullish or did PPT do several silent buys to keep the market bullish? I was expecting a pull back. The action of the last few days did look to me like a silent QE3 and I can be wrong here but it seemed that every time we dropped below the top of the old channel (light blue line now) there was a buy spike and Friday there was four.Maybe there is some silent buying. Maybe not.:notrust: So here's the charts:
White channel seems to be parallel with the 20 day and is the tops line with a drawn in parallel line for the bottom.
Yellow channel is a top, double bottom and the new top creating a double top. Bearish?
Thin red channel is friday's bull channel from the dip to the double bottom to the double top.
Red line is last higher peak and thin red line is the peak before the last high peak. So was the sideways consolidation all we're going to get and we go to the higher high or do we bounce down on the double top like we bounced up on the double bottom.
1407 go bullish
1418 go Birchish
1394 bearish
1386 bounce or 1373, 1364, 1350-53ish, then cliff
As always agreeing with my lines are always welcomed, but any contrary comments are always welcomed to keep me from missleading. Keep the team effort going.
So hope this helps and watch the yellow channel Monday.
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Bquat
TSP Talk Royalty
- Reaction score
- 607
Well you could be right but the top of the old channel just got tested as support becomming resistance (pink line).:worried: This is only a 1% channel and we can bounce at the double bottom line (yellow).
Bquat
TSP Talk Royalty
- Reaction score
- 607
Sure would be nice to see if the bottom of yellow channel hold and retest or break before the deadline. If the red or blue line hold we'll confirm a higher low. Wow it's happening now. Now to figure risk vs reward?
Bquat
TSP Talk Royalty
- Reaction score
- 607
Looking good for the bulls right now but top of channel (1401), double top line (1405), and last peak (1407.5) Is a lot of resistance. I want to atleast watch for a confirmed move and one of these lines tested from above. Have been wrong before but may be too much election year bullish thought and no econimic support. This may be the election year exception but what do I know?:notrust:
