Bquat's Account Talk

[Bquat]

A fine time to get a cup of coffee as the battle begins at 1505.50. Money, money,money.

 

[Bquat]

Here's the topping pattern I was mentioning. Oscar used to say when you get increased volitility and multible Head and shoulders in both directions it's a topping pattern. Here's the drift though, If the PPT can buy 10 S&P points right now, they can pass the head test and form the larger Inverted H&S.:notrust: Just had to put it out there. Anythings possible in this falsly bought market. Buy the bull. I am the contrarian right?

 

[Mcqlives]

Here's the topping pattern I was mentioning. Oscar used to say when you get increased volitility and multible Head and shoulders in both directions it's a topping pattern. Here's the drift though, If the PPT can buy 10 S&P points right now, they can pass the head test and form the larger Inverted H&S.:notrust: Just had to put it out there. Anythings possible in this falsly bought market. Buy the bull. I am the contrarian right?

But a 10-15 point spread on the topping pattern isn't very much. With increased volatility it could even be a consolidation. Just throwing a contrarian at your contrarian:nuts:

 

[Birchtree]

Sell pressure could ease after the noon time - this may still be related to 'Nemo'. So let it snow.

 

[wavecoder]

Here's the topping pattern I was mentioning. Oscar used to say when you get increased volitility and multible Head and shoulders in both directions it's a topping pattern. Here's the drift though, If the PPT can buy 10 S&P points right now, they can pass the head test and form the larger Inverted H&S.:notrust: Just had to put it out there. Anythings possible in this falsly bought market. Buy the bull. I am the contrarian right?

seems like it, before a reversal there's a pickup in volatility and swings in both directions before it breaks to one side. sorta like a train swerving on the track before finally getting derailed

 

[Bquat]

But a 10-15 point spread on the topping pattern isn't very much. With increased volatility it could even be a consolidation. Just throwing a contrarian at your contrarian:nuts:

Your probably right. I am looking at a 1.25% range. Thanks I may be too zoomed in.

 

[Bquat]

seems like it, before a reversal there's a pickup in volatility and swings in both directions before it breaks to one side. sorta like a train swerving on the track before finally getting derailed

Yea but I may have been looking at a HO track.:embarrest:

 

[Bquat]

But a 10-15 point spread on the topping pattern isn't very much. With increased volatility it could even be a consolidation. Just throwing a contrarian at your contrarian:nuts:

Here's my calmed down chart: Better guys?

 

[Mcqlives]

Here's my calmed down chart: Better guys?

I like it better than before but I still can't figure out a direction. I think we will continue to meander in this narrow range before a breakout next week but...which direction will it go? You are nailing the buy line by the way!

 

[Bquat]

I like it better than before but I still can't figure out a direction. I think we will continue to meander in this narrow range before a breakout next week but...which direction will it go? You are nailing the buy line by the way!

Well since you got me to expand out, I see an issometrical triangle that usually breaks in the direction in the trend. I haven't made any loss this year (yet) but the market still doesn't follow my Technical Analysis.

 

[Bquat]

Well since you got me to expand out, I see an issometrical triangle that usually breaks in the direction in the trend. I haven't made any loss this year (yet) but the market still doesn't follow my Technical Analysis.

Still within the triangle and may go down a little tomorrow.

 

[Mcqlives]

Still within the triangle and may go down a little tomorrow.

I am beginning to get more than a little nervous. I have been charting with my thumbs over longer term trends and can see a break down to the 1470's pretty quick if it goes that way.

 

[Bquat]

I am beginning to get more than a little nervous. I have been charting with my thumbs over longer term trends and can see a break down to the 1470's pretty quick if it goes that way.

I knew we would have a bullish breakout but I was hoping for one more touch of the bottom of the triangle. I was thinking about entering for tomorrow and may anyway with a test of 1515 as support. What you think. Thinking thinking jump?

 

[Mcqlives]

I knew we would have a bullish breakout but I was hoping for one more touch of the bottom of the triangle. I was thinking about entering for tomorrow and may anyway with a test of 1515 as support. What you think. Thinking thinking jump?

OK...is this a triple top or the beginnings of a breakout? If I was out of the c and s right now I would be wary of getting in. But...that is what I did last year and always got in too late to catch rallys.

 

[crommie]

I knew we would have a bullish breakout but I was hoping for one more touch of the bottom of the triangle. I was thinking about entering for tomorrow and may anyway with a test of 1515 as support. What you think. Thinking thinking jump?

Good morning Bquat,
Looks like a head fake to me at 1/2 to 3/4 down the triangle. Don't these usually break the opposite way after the fake out?
Also, you will have a bit of difficulty entering tomorrow...it's Saturday :cheesy:... I know, you retired guys have a hard time keeping the days of the work week straight!
Thank you for all that you do for this forum!

 

[Bquat]

I am beginning to get more than a little nervous. I have been charting with my thumbs over longer term trends and can see a break down to the 1470's pretty quick if it goes that way.

I kind of feel the oppisite. The PPT line has done enought to make things bullish. I think we have a chance of proving resistance as support and give this new high legs. Remember the last peak did not break through and both it and the one before didn't have support to fall back to. If I do enter today it may scare a lot out. I wanted to use that icon.

 

[Mcqlives]

I kind of feel the oppisite. The PPT line has done enought to make things bullish. I think we have a chance of proving resistance as support and give this new high legs. Remember the last peak did not break through and both it and the one before didn't have support to fall back to. If I do enter today it may scare a lot out. I wanted to use that icon.

I hope you are right cause my line to get out is still 1496 with a slide happening.
Check out the S&P chart from 97 through the present. Talk about a scary symmetry!

 

[Bquat]

Good morning Bquat,
Looks like a head fake to me at 1/2 to 3/4 down the triangle. Don't these usually break the opposite way after the fake out?
Also, you will have a bit of difficulty entering tomorrow...it's Saturday :cheesy:... I know, you retired guys have a hard time keeping the days of the work week straight!
Thank you for all that you do for this forum!

There can be false breakouts 3/4 of the way in issometric triangles and it happens a lot but even though this is at the 3/4 point, it is over the start of the triangle and above a double top acting like support. As for getting in I said that I was thinking about getting in for tomorrow but meant for Monday. Thanks you just made the decision harder. Entering on Friday for over the weekend? Hmm get a jump on Monday? Thinking thinking. Give me 20 min to see if we get a bull flag. I like the new wink.

 

[Bquat]

I hope you are right cause my line to get out is still 1496 with a slide happening.
Check out the S&P chart from 97 through the present. Talk about a scary symmetry!

Hey buddy, I be trying to get bullish here. You know 1515 is almost exacly 2% from my last exit and it's like the market waited for me. The thing holding me back was buying into strength last year and catching the dip from the top. It is so true about missing the train thoughts and not climbing the wall of worry. You saw the projected move by the triangle. Trust TA?

 

[Bquat]

Going with TA and entering.