Bquat's Account Talk

Sort by newest Sort by date
Bquat said:
No but I did put a blue line there. It may be bad news yesterday is good news against a FED rate hike.:rolleyes: It may be good that we broke the Lower High again but I really don't know anymore. So for Friday I'll just put a yellow line on the chart where there may be resistance or not::blink::blink: Another Friday here and I really don't know anymore, still. So for Friday I'll just keep the yellow line on the chart where there may be resistance or not::blink::blink:
And the yellow line continues. Will the FOMC meeting on interest rates be good news that's bad news or visa versa. Anyway we must hope something happens to pop this because flat tops can bring big drops. So here we go with another news related market day::cheesy:
Click to expand...
So no rate change is bad news? No it's good news. Initially down then up:
 
Bquat said:
So no rate change is bad news? No it's good news. Initially down then up:
Click to expand...


Markets had to digest that the rate hike is delayed till December and then the analysts chimed in saying that the fed will move slow with a series of 1/4 point hikes. Market likes the slow build and responded accordingly. I hope they are right and we get a nice, loooooonnnnnggggg Santa Claus rally!!!
 
Ok, SPY chart with volume: We have a rising wedge which is bearish. We have increased volume with the 50 Day crossover and with the Higher Low line holding on the no rate hike news. So is this chart bearish or bullish? Is the increased volume into the high base only news related? Did the closing volume indicate fear?
 
In the Transports, are points 2 and 4 a double top or point 4 a failed breakout Lower High (yellow) line? Is the test of the 50 Day a Higher Low that will please traders or is points 3.5 and 4.5 shoulders for point 4? Did the test of the 18 day as resistance pass?
 
Did you just read my JTH post on positions and rising wedge? :nuts: I don't believe news drives markets, markets drive news. Those bobble heads aren't that smart.

Bquat said:
Ok, SPY chart with volume: We have a rising wedge which is bearish. We have increased volume with the 50 Day crossover and with the Higher Low line holding on the no rate hike news. So is this chart bearish or bullish? Is the increased volume into the high base only news related? Did the closing volume indicate fear?
Click to expand...
 
OBXTrader said:
Did you just read my JTH post on positions and rising wedge? :nuts: I don't believe news drives markets, markets drive news. Those bobble heads aren't that smart.
Click to expand...
No I didn't but will now. I chart before I read the posts, so I will check it out shortly.
 
Had the light blue line that was red from here which was resistance turned to support: That's why I was questioning the red end of day candle because it's below the higher low line but above the light blue line that's being tested as support.
 
Bquat said:
Ok, SPY chart with volume: We have a rising wedge which is bearish. We have increased volume with the 50 Day crossover and with the Higher Low line holding on the no rate hike news. So is this chart bearish or bullish? Is the increased volume into the high base only news related? Did the closing volume indicate fear?
Click to expand...

The last 3 days of October are statistically well below average, and taking into account the strong month, I would estimate some folks are going to take some gains off the table. I don't see a short-term rising wedge as a necessarily bearish pattern but I do think it illustrates a loss of momentum (but this isn't to say momentum can't be regained) If the pattern was wider, I'd consider it more bearish, and I don't see an expected decline in volume prior to the breakdown.
 
JTH said:
The last 3 days of October are statistically well below average, and taking into account the strong month, I would estimate some folks are going to take some gains off the table. I don't see a short-term rising wedge as a necessarily bearish pattern but I do think it illustrates a loss of momentum (but this isn't to say momentum can't be regained) If the pattern was wider, I'd consider it more bearish, and I don't see an expected decline in volume prior to the breakdown.
Click to expand...
Thanks
 
Bquat said:
In the Transports, are points 2 and 4 a double top or point 4 a failed breakout Lower High (yellow) line? Is the test of the 50 Day a Higher Low that will please traders or is points 3.5 and 4.5 shoulders for point 4? Did the test of the 18 day as resistance pass?
Click to expand...


Let me know if you figure that one out!
 
It will be an interesting week....I hate being invested with a feeling we're headed down but I'm hoping for no lower than 2020 and to just hang in there through it, and who knows...maybe we shoot up by middle of the week. JTHs chart indicated C is the place to be based on past history. Best of luck to all this week.

FS
 
Bquat,

I think the negative interest rate conversation was on your thread...I just found out the most flagrant example of what negative interest rates actually mean...JP Morgan and BNY, among many others world wide, charge interest on large deposits.
 
Bquat said:
Had the light blue line that was red from here which was resistance turned to support: That's why I was questioning the red end of day candle because it's below the higher low line but above the light blue line that's being tested as support.
Click to expand...

Reference your post #10049 (Holy *&^^ that is a lot of posts!)...your red line was placed perfectly going into COB yesterday and into this morning. Now was this mornings move enough to head up or was that it? I would like to see some consolidation at this point to build a good floor before new highs are hit by the end of the month.

BTW...you find any answers on the transports?
 
Bquat said:
In the Transports, are points 2 and 4 a double top or point 4 a failed breakout Lower High (yellow) line? Is the test of the 50 Day a Higher Low that will please traders or is points 3.5 and 4.5 shoulders for point 4? Did the test of the 18 day as resistance pass?
Click to expand...
BTW...you find any answers on the transports? Ok 3 and 4.5 are shoulders. I guess you need to watch the 100 Day::worried:
 
Hi Bquat...just checking to see if everything is OK with you!? Place seems empty without your Friday morning coffee drinking charts!
 
Not sure what to do at this point. made a little in the F last month (while stocks were big) and now the F is dropping and the stock markets appear to be headed for a consolidation period? Waste an IFT on a move to G, buy stocks or stick where I am... got an hour to make up my mind. Love this about the TSP... /s
 
Been playing with a Bull flag with the S Fund. Maybe good news is bad news then good news. Oh I don't know. F Fund looks bad. Charts.:cool:
 
You must log in or register to reply here.

Similar threads

RevShark
  • Article Article
RevShark's Traditional Thanksgiving Post 2024
Replies
2
Views
535
nasa1974
nasa1974
UNIX84
UNIX84 Account Talk
Replies
14
Views
3K
tsptalk
tsptalk
tsptalk
  • Article Article
When traders become buy and holders
Replies
1
Views
262
JTH
JTH
tsptalk
  • Article Article
TSP Talk - An inauspicious start to the New Year
Replies
1
Views
338
nasa1974
nasa1974
tsptalk
  • Article Article
TSP Talk - Where is the October volatility?
Replies
0
Views
278
tsptalk
tsptalk
Back
Top