Bquat's Account Talk

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So far the market doesn't want to admit it's broken. Maybe it's stalling all it can until something good comes out. Maybe like no deal.
 
The battle being a good one is really a fight for a low base or bear flag. I don't see enough commitment from the bulls to warrant any bounce and this may be a bad thing.:worried: We need bullish commitment right now! big money may sell the rumor into the FOMC. But I am just one voice and just a couple months into the ex-contrarian mode.:cheesy: So watch and decide wisely.
 
Bquat said:
The battle being a good one is really a fight for a low base or bear flag. I don't see enough commitment from the bulls to warrant any bounce and this may be a bad thing.:worried: We need bullish commitment right now! big money may sell the rumor into the FOMC. But I am just one voice and just a couple months into the ex-contrarian mode.:cheesy: So watch and decide wisely.
Click to expand...

We could have seen almost all the downside the market has to offer. Tomorrows ppi report (short term as been trending down but is on a year over year uptrend) could set the mood for a rally along with the following weeks manufacturing (Monday) and CPI (Tuesday) but the housing report coming Wed. needs to come out at expectations or we could get really volatile...jmo but I am considering going in tomorrow morning and hope for a 2% gain.
 
I just hope that H&S pattern doesn't break down...at least not until January.
Bquat said:
The battle being a good one is really a fight for a low base or bear flag. I don't see enough commitment from the bulls to warrant any bounce and this may be a bad thing.:worried: We need bullish commitment right now! big money may sell the rumor into the FOMC. But I am just one voice and just a couple months into the ex-contrarian mode.:cheesy: So watch and decide wisely.
Click to expand...
 
Watch futures tonight. We are so close to becoming bearish if not already.:worried: I even gave the bulls a chance a mm away.:)
 
According to the futures market, I don't see the weakness I was expecting. My chart may be biased because of my H&S pattern in the back of my head. Well anyway I'm seeing a good possibility for a head test.Now if I'm wrong, which is seldom :rolleyes:, I must also show you the bullish side. I don't know if this will happen but there's always the chance. Now if I were to buy now what would be my chances.:confused: RSI is 31.5 isn't it. Yes input is asked for here.
 
Mcqlives said:
We could have seen almost all the downside the market has to offer. Tomorrows ppi report (short term as been trending down but is on a year over year uptrend) could set the mood for a rally along with the following weeks manufacturing (Monday) and CPI (Tuesday) but the housing report coming Wed. needs to come out at expectations or we could get really volatile...jmo but I am considering going in tomorrow morning and hope for a 2% gain.
Click to expand...
I completely missed this. look at my last post. You have 60/40 chance of being right, if I'm right, right?
 
Bquat said:
According to the futures market, I don't see the weakness I was expecting. My chart may be biased because of my H&S pattern in the back of my head. Well anyway I'm seeing a good possibility for a head test.Now if I'm wrong, which is seldom :rolleyes:, I must also show you the bullish side. I don't know if this will happen but there's always the chance. Now if I were to buy now what would be my chances.:confused: RSI is 31.5 isn't it. Yes input is asked for here.
Click to expand...

Can you have a head test on a head and shoulders pattern if you have already gone below the neckline and confirmed below? Also, this is probably nothing more than a neckline test unless the market can open above and move above 1783 and continue up... otherwise, we are heading to 1752, the target of the H&S and a daily S&P 382 retrace of the most recent upmove...

But don't mind me, I bought at the high and am riding this down, just like I have all year long...
 
RealMoneyIssues said:
Can you have a head test on a head and shoulders pattern if you have already gone below the neckline and confirmed below? Also, this is probably nothing more than a neckline test unless the market can open above and move above 1783 and continue up... otherwise, we are heading to 1752, the target of the H&S and a daily S&P 382 retrace of the most recent upmove...

But don't mind me, I bought at the high and am riding this down, just like I have all year long...
Click to expand...

Well, looks like futures bounced off of 1783 and dropped a little... lets see what CPI has in store for us...
 
RealMoneyIssues said:
Well, I guess we are in for a correction unless something changes by COB... the institutions are finding any 'ole reason to sell into the sheeple...
Click to expand...
I don't know. I was expecting a big down move in the futures. This is looking like a gap up coming. They say if everyone sees the head and shoulders it may not happen. Out of pocket at breakfast.
 
RealMoneyIssues said:
Can you have a head test on a head and shoulders pattern if you have already gone below the neckline and confirmed below? Also, this is probably nothing more than a neckline test unless the market can open above and move above 1783 and continue up... otherwise, we are heading to 1752, the target of the H&S and a daily S&P 382 retrace of the most recent upmove...

But don't mind me, I bought at the high and am riding this down, just like I have all year long...
Click to expand...
Ok, I'll agree with you now with the weakness after the open this morning. Looks like a good size topping tail this morning.:blink: I have my switch line ready just in case.:notrust:
 
Bquat said:
Watch futures tonight. We are so close to becoming bearish if not already.:worried: I even gave the bulls a chance a mm away.:)
Click to expand...
The bulls are buying just a silly mm away.:toung: probably no direction until deadline.:(
 
Bquat said:
I completely missed this. look at my last post. You have 60/40 chance of being right, if I'm right, right?
Click to expand...

I stayed out too. I do not see any confirmation of bulls in this market and the charts are split with the 1772 being the key to break (bears) or bounce off of (bulls). If we don't get a bounce from there soon then we should fall and 1753ish is in play with a possibility of 1726 on the horizon. If we do get a bounce the range should be back up in the 1800's (1802 has to break) real fast.
 
I am seeing weakness but it does seem like the bulls are willing to support 1775 until news comes out.:notrust:
 
Well in review and watching some weekend analysis videos, This is what I come up with. The bulls are happy with 1775. Investing groups have taken profits during the last three down moves to show their clients end of year profit. We are short term over sold and if my confirmation over the blue-green line is made, I shall enter 50% Monday and risk the FED for the Santa Rally.;) After the FED, I may add 50% or take out 50%. Any agreement?
 
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