Bquat's Account Talk

[Bquat]

1398 double bottom? Will we bounce off the 20 day?:worried:

 

[Bquat]

False breakout or bull flag? I don't know but since we're at the top of the purple channel and there not being a pole for the flag i'm nervous. Some disagree with me with the move up Friday but we sold off and are below a falling 5 day.

Well I have been getting so back and forth with my charting and guessing that I'm getting where I'm second guessing myself. I may just start charting possible support and resistance lines. So here's my bearish chart in what may be a bullish pullback.

 

[Bquat]

Possible support or resistance: YouGuessemChart.com

 

[Bquat]

Playing with double top.:worried:

 

[Bquat]

Bottom of the rising wedge still holding. Rising wedges are bearish. We're still consolidating to the right in the top part of the channel, which is bullish. Issack was only catagory one so far. Shuldn't effect the market too much.Resistance and support lines about the same and we're coiling up for a move.

 

[Bquat]

And add one little line and you can see the coiling and the symetrical triangle. We could break either way. Most of the time it's in the direction of the trend but being at the top of the channel. I don't know?

 

[Bquat]

Slowly winging myself off of charts. Did we just go more bullish because of no breakdown after double tops and put ourselves into asending triangles?

 

[Bquat]

Market must of heard somethink it didn't like. My 20 day is acting as support but will it continue to hold?:worried: Guess it didn't like the double tops after all.

 

[Bquat]

We also have a chance of a double bottom at 1398ish and if we break that it will confirm a down trend with a lower low.:worried:

 

[clester]

I bet we end the day flat with a slow climb this afternoon.

 

[Bquat]

I bet we end the day flat with a slow climb this afternoon.

I don't know. We've been consolidating sideways for over a week waiting on the Fed and then this drop. This may be showing someone dosn't beleve the economy is bad enought for QEIII. Only 2 more points down we get our 1% drop and maybe the double bottom. Setting a lower low that 1398 can be bad.

 

[Bquat]

Previous support just tested as resistance.

 

[Birchtree]

There could be a leak from Jackson Hole that is negative or we could be simply placing another kangaroo tail before we rebound.

 

[Bquat]

There could be a leak from Jackson Hole that is negative or we could be simply placing another kangaroo tail before we rebound.

That kangaroo needs to start hopping right now!

 

[clester]

I don't know. We've been consolidating sideways for over a week waiting on the Fed and then this drop. This may be showing someone dosn't beleve the economy is bad enought for QEIII. Only 2 more points down we get our 1% drop and maybe the double bottom. Setting a lower low that 1398 can be bad.

Could be. Who really knows? That's why I use charts, sentiment, and indicators.

 

[Bquat]

Could be. Who really knows? That's why I use charts, sentiment, and indicators.

Only the shadow knows and hopefully Ben won't speak. And as always thanks for the visits.

 

[clester]

Only the shadow knows and hopefully Ben won't speak. And as always thanks for the visits.

Some talk about Spain problems again. We also have a holiday coming up. It sounds like the talking heads think Ben won't commit to anything tomorrow, so that's probably built in.

 

[Bquat]

Ok you tell me. Market heard something they liked. Then something the diddn't like or was this a glitch? Then back up again. Well we took the 20, the 5 and the 13 day and lost all of them. Then recaptured the 20 but the declining 5 day is acting as resistance.

 

[Bquat]

Well if you were in already, you were in to win. Is the move over? 1416 is the top of the consolidation channel. Do we have the strenght to go foward. I really haven't seen anything. Have you? Remember the market likes the 1% thingy.

 

[Birchtree]

The market is anticipating some bold action from Super Mario of the ECB. And Uncle Ben will back him up.