Bquat's Account Talk

[Bquat]

Really starting to look like a tight computer automated trading range for the holiday:

 

[Mcqlives]

Really starting to look like a tight computer automated trading range for the holiday:

That will change. Yesterdays action was 60/40 confirmation for me that we were in a consolidation period and now will have the next leg up. The 40 split is that we were in a topping action waiting on bears.... but I think we will have volume pick up going into late morning and set the stage for a rally next week.

 

[Bquat]

No sense of direction today. Investors will be heading out soon. Don't think much will happen after deadline today. The bull / bear line I was testing as a future switch line isn't showing anything yet.

 

[Birchtree]

I would not be surprised to see a nice pop in the last hour to reverse the dip from yesterday - going over 1810 would be purrfect.

 

[JimmyJoe]

I would not be surprised to see a nice pop in the last hour to reverse the dip from yesterday - going over 1810 would be purrfect.

With you there. If it gets to 1810 I would still consider it short term underperforming. Just right to pop up for the first and in particular, the second week of December, which it is not supposed to do, looking at seasonality, but I'll take some seasonal contrarian action. I think of the market as being buoyant. During the Christmas factor, the market has got to pop up big sometime soon, considering its lackluster performance thusfar this week. Maybe it'll go through the whole month of December all green with a 7% rise. Could be that is what it is setting itself up for.

 

[Bquat]

I would not be surprised to see a nice pop in the last hour to reverse the dip from yesterday - going over 1810 would be purrfect.

We're not even getting a low volume drift up. This is new though. Have all the traders locked into this trading range. I can see the sell level set and I can see the dip buy level set but not both.

 

[Cactus]

We're not even getting a low volume drift up. This is new though. Have all the traders locked into this trading range. I can see the sell level set and I can see the dip buy level set but not both.

They can if all the human traders have already left for the holiday leaving the automated computer programs to buy-N-sell to each other.

 

[Mcqlives]

We're not even getting a low volume drift up. This is new though. Have all the traders locked into this trading range. I can see the sell level set and I can see the dip buy level set but not both.

Agreed...very weird day.

 

[Bquat]

Chart:

 

[Mcqlives]

Chart:

If things heat up with China this could be a head forming. But I hope my earlier 60/40 prediction holds true when the markets start up again...

On a better note, I for one am very blessed to have my life and am thankful every day for it. Tomorrow will be a day where I simply celebrate the life, and family, I love. I know many on this site are of similar minds concerning their own lives. To those, as well as those looking for more,
HAPPY THANKSGIVING! EAT MUCH AND DRINK MORE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[Bquat]

Anybody see any short term worry? Even if we continue sideways it could be a flat top. Just a heads up or those that are in.

 

[Bquat]

Now if we ignore the higher highs line, the higher lows line of the last chart and don't worry about any holiday trend reversals our buddy Birch would call this: Coin toss?

 

[Bquat]

Enjoy your times with friends and family today. Remember the oven should be pre-heating by now.

 

[Bquat]

Well I guess the bulls have it. There's still a chance we're still in a rising wedge if you consider my switch line but I drew a possible new channel anyway.

 

[Mcqlives]

Well I guess the bulls have it. There's still a chance we're still in a rising wedge if you consider my switch line but I drew a possible new channel anyway.

The bulls might have it...but with 1805ish being a resistance that I wasn't expecting I am looking at 1813ish as the hurdle to cross for the short term. 1826 may be off the table till we get a little retracting.

 

[RealMoneyIssues]

The bulls might have it...but with 1805ish being a resistance that I wasn't expecting I am looking at 1813ish as the hurdle to cross for the short term. 1826 may be off the table till we get a little retracting.

With the consolidation, the measured move should put the SPX at about 1828... and as usual, I am missing the move. Congrats to all the B&H folks!!

 

[Danny]

Here you go Bquat...

Danny

 

[Bquat]

Here you go Bquat...View attachment 26137

Danny

Thanks, maybe a good spider for Dec.

 

[Bquat]

The bulls might have it...but with 1805ish being a resistance that I wasn't expecting I am looking at 1813ish as the hurdle to cross for the short term. 1826 may be off the table till we get a little retracting.

!813 may be it and we're starting down. At least my channel top held and now to test the 5 day or switch line. Rising wedge until we test the bottom of the channel. What's great for me, I may be able to buy in at my 18th exit point or lower. So watch out my friends.

 

[Bquat]

The down move is faster than I expected. At least the 5 day pasted the first on slot.