Bquat's Account Talk

[WorkFE]

We will have an answer in 30 minutes

 

[Bquat]

Yea that's what my bowling partners say. This year the 55 plus tournament will be easier to place in. My BFFN (Best Friend for Now) just turned 65 and is finally out of my division again. He has a 209 - 214 average. I'm going to try my best to get a 190+ average this summer.

OK maybe 180+

 

[Bquat]

Traders liked the Yellen speech and think they're going to stay in the easy money mode that why even bonds went up. I think we're over bought but in the Fed over watch and low volume we can remain or a drift up. A sideways move and consolidation in time may catch my interest. The slow drift up and new highs against the other shoe dropping mentality may be keeping me from gains. We are near the top of the channel and I think most of the gain has happened. So I don't know what to tell you. I'm not losing much in the F fund so it's not confirming the move either. This could still be the ECB rate cut making European money to enter into the US stocks and bonds where they both continue to drift up. With the VIX at record lows I still have the shoe drop mentality and may have to put it on ignore.

A sideways move and consolidation in time may catch my interest.

 

[Bquat]

Double top tweezers top::worried:

 

[Birchtree]

Frankly, a 30 point SPX move upward would not surprise me in the least - there apparently are central banks buying stocks. That'll be real fun.

 

[airlift]

Double top tweezers top::worried:

Is there a difference in behavior between a regular double top and a[FONT=Verdana, Arial, Tahoma, Calibri, Geneva, sans-serif]Double top tweezers top[/FONT]

 

[Bquat]

Is there a difference in behavior between a regular double top and a Double top tweezers top

I was kind of mentioning we are right at the double top area again. I know that going down from a tweezers top is bearish but this ended right at the top, So the this count as a triple top or are we bullish?

 

[airlift]

I was kind of mentioning we are right at the double top area again. I know that going down from a tweezers top is bearish but this ended right at the top, So the this count as a triple top or are we bullish?

Geez ... I don't know. However, JTH just posted a chart that suggests we are at the verge of another double top breakout. This is a great possibility, with a high amount of incoming liquidity and Central banks world-wide buying stocks !!

 

[JTH]

Geez ... I don't know. However, JTH just posted a chart that suggests we are at the verge of another double top breakout. This is a great possibility, with a high amount of incoming liquidity and Central banks world-wide buying stocks !!

Ha!

Clearly if I knew what was going on, then I would have stayed in the S-Fund this month instead of sucking wind in the F-Fund.

 

[airlift]

Ha!

Clearly if I knew what was going on, then I would have stayed in the S-Fund this month instead of sucking wind in the F-Fund.

JTH,

Don't worry about it. Both Bquat and you, are doing great work with TA and your opinions in the message boards. I consider all of this a continuous learning experience for myself. Somewhere I learned that long before personal computers and handhelds were in use, traders in Wall Street were doing computations by hand; and using, among others, the P&F charts that you used yesterday. So, you are doing great stuff with all available tools. Smart people have curious minds ... so we all benefit from this. Keep it up guys!

 

[Bquat]

JTH,

Don't worry about it. Both Bquat and you, are doing great work with TA and your opinions in the message boards. I consider all of this a continuous learning experience for myself. Somewhere I learned that long before personal computers and handhelds were in use, traders in Wall Street were doing computations by hand; and using, among others, the P&F charts that you used yesterday. So, you are doing great stuff with all available tools. Smart people have curious minds ... so we all benefit from this. Keep it up guys!

Wish I was one of them there folks.

 

[WorkFE]

Wish I was one of them there folks.

Your on my list of daily must reads.

 

[Bquat]

Your on my list of daily must reads.

Hay I was going to ask you. What did you think of the 1960 level. I'm not showing any trend line as to why that level is acting as resistance. You think it is the number the computer programs are set to wait for user input? It just seemed weird as to get a small double top at that point.

 

[Bquat]

I raised my river line and dropped the pivot line. Here's mid to long term chart:

 

[WorkFE]

I'm not showing any trend line as to why that level is acting as resistance.

I believe all resistance to this point has been "perceived resistance". Not really resistance at all. If we had any kind of volume at all we would blow right by it and it would not look/feel like resistance.

 

[WorkFE]

Volume confirms price. Thats the theory anyway.

 

[Bquat]

I believe all resistance to this point has been "perceived resistance". Not really resistance at all. If we had any kind of volume at all we would blow right by it and it would not look/feel like resistance.

Yea and my low volume speaker is saying trend what trend?

 

[WorkFE]

Support and Resistance
I don’t look at Support and Resistance as lines, I viewthem as zones. Bouncing off stays in the zone, pushing through and holdingcreates a new zone. Or we could forget the whole thing and follow the leaders. :laugh:

 

[Bquat]

As always the bigger move will be after our deadline. The upper yellow line is right so far. No move for me.

 

[Bquat]

Here's a couple of possible decision lines coming up: 1