Bquat's Account Talk

Sort by newest Sort by date
Frixxxx said:
Well, just from the pop, then fizzle occurring, I think we're still sideways for a bit....
Click to expand...
Yes, probably sideways in the red/blue channel. Maybe not. Got the H&S and the double top. These should be bearish.:worried: Went from upper channel to lower channel.
 
But the last double top and 4 double tops on last upswing had QE double tops or ascending triangle: Bullish, so we'll see.:confused:
 
Here's a more unbiased chart for tomorrow. Showing the sideways channel which shows the price action lately. Might give us a heads up in direction if top or bottom breaks.:cool: This way you can decide.:)
 
Sorry guys out of pocket this morning, couldn't chart. Double top red line. Price range still intact. Second test of 11 day as support fails. Getting ready for test from below. If we can't retake it, we should sell off more. Dip buyers have been buying up to the 5 day so there's still hope for the bulls. I have redrawn the trading channel to a 1% range. So watch nothing is broken yet but I'm not jumping in either. We are below the channel and may have a failed head test of the H&S (maybe).:worried:
 
Bquat said:
Sorry guys out of pocket this morning, couldn't chart. Double top red line. Price range still intact. Second test of 11 day as support fails. Getting ready for test from below. If we can't retake it, we should sell off more. Dip buyers have been buying up to the 5 day so there's still hope for the bulls. I have redrawn the trading channel to a 1% range. So watch nothing is broken yet but I'm not jumping in either. We are below the channel and may have a failed head test of the H&S (maybe).:worried:
Click to expand...
Due to the H&S projected loss and the "Flat tops big market drops", I am switching back to my original switch line and maybe the dark blue line 38.2 Fib. I don't think we'll drop to the 50 day but it could happen.:worried: I be thinking with the sideways consolidation and todays drop is almost enough.:suspicious: The 50 day would be a good right shoulder for an inverse H&S. 1740 or 1720 Plenty of room in this thread for better guesses.:D
 
With major stores and others adding 12 - 18 hours to black Friday, I'm expecting sales to out due last years. It will look like solid gains to the market. So I would like to be in by Thanksgiving. I think the market will pop until they figure gain / increased labor costs for overtime. I figure 40/30 just to show 15% profit at 12 % added cost. If they can hide costs.:suspicious:
 
Here's some support and resistance lines for you. This may be a jobs report pop or DCB and may go back down after most traders realize this increases the chance for QE wrap up.:worried: Also, unless we get another 1% gain above this, this will be a lower high. We'll have to watch because this is still a QE supported market.:notrust:
 
Bquat said:
Here's some support and resistance lines for you. This may be a jobs report pop or DCB and may go back down after most traders realize this increases the chance for QE wrap up.:worried: Also, unless we get another 1% gain above this, this will be a lower high. We'll have to watch because this is still a QE supported market.:notrust:
Click to expand...
Boy that didn't happen. I'm at a lose. Guess I got used to the reverse the news market. Ok, you tell me.:confused::confused::confused: Thought for sure we had a M pattern.:embarrest:
 
IS this a head test or new highs?:worried: I was really wrong in thinking the Jobs Report effect. Shouldn't it increase chances for tapering or does it show the economy is rebounding?:confused: Waiting for market response.
 
Ok, I'll break the silence. Here's a clean chart: So we may just watch todays action because we can't do anything at TSP today.
 
We are coiling up for bigger move. Should brake in direction of trend. The question is the move up or channel trend down.:confused:
 
With this strength, I may follow the Good Fed News channel. I am still worried about tapering concerns but many are say that will effect bonds and equities may be the only place to be. Anybody agree? I'm in pause mode so far for another day but could be convinced otherwise.:notrust:
 
Yellen will be loath to repeat Big Ben's mistake to mention taper. Fed liquidity is also positive through next week which is also historically positive..
 
Dutchy said:
Yellen will be loath to repeat Big Ben's mistake to mention taper. Fed liquidity is also positive through next week which is also historically positive..
Click to expand...
I'm getting real itchy about maybe reentering with seeing a inverse H&S following the 11 day but a lot of times my itch isn't trustworthy.:notrust:
 
You must log in or register to reply here.

Similar threads

RevShark
  • Article Article
RevShark's Traditional Thanksgiving Post 2024
Replies
2
Views
644
nasa1974
nasa1974
UNIX84
UNIX84 Account Talk
Replies
15
Views
3K
UNIX84
UNIX84
tsptalk
  • Article Article
When traders become buy and holders
Replies
1
Views
351
JTH
JTH
tsptalk
  • Article Article
TSP Talk - An inauspicious start to the New Year
Replies
1
Views
428
nasa1974
nasa1974
tsptalk
  • Article Article
TSP Talk - Where is the October volatility?
Replies
0
Views
332
tsptalk
tsptalk
Back
Top