Bquat's Account Talk

[Bquat]

I must let you know futures disagree with me but I got hi hopes.
Stock Futures of Major World Indexes - Bloomberg

 

[wavecoder]

I saw 1413 as a major resistance in the weekly on Des's video and in Christian's video he mentioned watch for confirmation on the move down. So 1413 is the place I'm watching. So if we don't go lower tomorrow, we can bounce back. With the buy at the end of the day I think it's possible. So let's keep an eye out. I didn't see any major selling and why did someone buy at the end of day. The price got towhere they considered it worth buying.

Interestingly enough, that move up kept a little 2-week channel intact that's been that drift up on low volume we've had the last 13 or so trading days. Careful though, if the wedge is broken to the downside I think we could see 13,100 tested pretty soon after that. Nothing that screams sell signal to me yet, but it has me looking closely.

 

[Bquat]

Interestingly enough, that move up kept a little 2-week channel intact that's been that drift up on low volume we've had the last 13 or so trading days. Careful though, if the wedge is broken to the downside I think we could see 13,100 tested pretty soon after that. Nothing that screams sell signal to me yet, but it has me looking closely.

View attachment 20056

Nice chart thanks. Some one was mentioning a cup and handle in another thread. What do you think of that? This dip can be the little dip at the end of a cup and handle. Shouldn't the bottom of the cup be more defined? Here's how I charted the posability. I know the timeframe is good.

 

[Bquat]

Here's the pattern:

 

[Bquat]

Now I got the cup and handle thingy stuck in my head and the bottom of the channel holding so far. Can this be the end of the dip and the complection of a cup an handle. Inquiring minds want to know. Chart guys check in please.

 

[Bquat]

If we can recapture the 5 day, this could be a bottoming tail.

 

[Birchtree]

That bottoming tail looks very interesting to me but every time I open my mouth I end up eating some PF Flyer. But I believe the FOMC minutes may perk things up - QE3 remains on the table.

 

[RealMoneyIssues]

That bottoming tail looks very interesting to me but every time I open my mouth I end up eating some PF Flyer. But I believe the FOMC minutes may perk things up - QE3 remains on the table.

Until you get your dream of QE3, the market will not bull to the top of the top... once it is announced, the shorts are going to cry out in pain, but not until then

 

[wavecoder]

Nice chart thanks. Some one was mentioning a cup and handle in another thread. What do you think of that? This dip can be the little dip at the end of a cup and handle. Shouldn't the bottom of the cup be more defined? Here's how I charted the posability. I know the timeframe is good.

Looks like it's trying to form one. I might have mentioned it on my account talk thread a few weeks back jokingly, since it looked like a cup was forming. The handle's in the process of being made. Of course the most important part of it is the break in the up direction, I hope that happens

 

[Birchtree]

NAS will soon be positive to lead the parade - let the bulls romp in the clover.

 

[Bquat]

Ok, as I admitted, I got too bullish for my own good. If you look at the larger time frame, the fear subsides and so does the bullishness. Although? If Tom would repost his August chart, shouldn't we be past the bad day and ready for the up days? Or was that the election year chart? By the longer term chart we're still in the high base and may be maintaining it with todays dip buying. It doedn't look like anything is broken and if we can get back above the gray line...

You know? Any charting is at least continuing dialogue and promoting some technical participation of others.

 

[Bquat]

NAS will soon be positive to lead the parade - let the bulls romp in the clover.

Who or what is NAS?

 

[Bquat]

So, what if we already had the dip? Longer term: BirchChart.com

 

[Bquat]

I am getting a little nervious here. The 13 day is slowing down the down move but just don't know if we'll hold here.:worried:
The 20 day is at 1394 another 11 points down. That less than 1% more. Sometimes a touch of the 20 is a good thing. Also would this satisfy the cup and handle? If I exit, I can't reenter until next month a week away. Any ideas?

 

[MaStA]

If that's a cup and handle I think the handle just broke off the cup. :laugh:

Honestly I don't think anyone knows what is going to happen. There is so much uncertainty in the air. With every win for the market there always seems to be a loss the next day.

 

[Birchtree]

Coming up on Jackson Hole on 8/31 the market can easily bolt higher if it becomes apparent that more liquidity will enter the game. We've been in a cyclical bull since March '09 - although that may have been the beginning of a mega trend secular bull market that will last for several more years. Sometimes you have to leave the trees inorder to see the forest.

 

[Bquat]

If that's a cup and handle I think the handle just broke off the cup. :laugh:

Honestly I don't think anyone knows what is going to happen. There is so much uncertainty in the air. With every win for the market there always seems to be a loss the next day.

Your right on that one. The 13 day level is looking better. and I found a little support last week. I'm just at my break even point on the S&P. Would love to stay in the channel.

 

[Bquat]

I may be wrong but I'm hanging in there with the 13 day supported channel. I'll show it in a longer term soon.

 

[Bquat]

The last few times we touched or slightly broke the 13 day from above, we had a good market move to the up side. Now we have to see if it happens again.:notrust:

 

[Bquat]

Here's a support line for tomorrow.