Bquat's Account Talk

[Bquat]

Dead Cat Bounce line acted as resistance. Chart::blink:

Well it looks like my DCB line and the top of my Midterm was drawn right:

 

[Bquat]

Drop to fill gap and below both Midterm and Longterm channels. Spidey is awake and says this can be bad:

 

[Bquat]

No buy for me. Quick chart update hoping bottom tail line holds as support::worried:

 

[Bquat]

Looking at the downwards ramp on the Dow is showing sell programs following through on selling:
Dow Jones U.S. Completion Total (^DWCPF) Charts, Data & News - Yahoo Finance

 

[Bquat]

No buy for me. Quick chart update hoping bottom tail line holds as support::worried:

Good dip buying to get us back above my little purple bottom tail line but still below the Midterm::notrust:

 

[Bquat]

Good dip buying to get us back above my little purple bottom tail line but still below the Midterm::notrust:

More buying but the bad news is the 100 Day tested as resistance and we almost got to the Dead Cat Bounce line.:worried:
The good news is at least we are back into both channels and testing the Longterm bottom as support right now::blink:

 

[Bquat]

Marked midchannel to indicate strength:

 

[Bquat]

Chart:

 

[Bquat]

I still don't know what's going on with the markets. Wow look at me missing the move again::embarrest:

 

[nasa1974]

Not sure why some of you folks didn't take a chance and jump in Monday as bad as the day started of and then ended. On the plus side the market has filled the gap from Monday. So know what happens???

 

[Bquat]

Stayed in channel. Chart:

 

[flalaw97]

Not sure why some of you folks didn't take a chance and jump in Monday as bad as the day started of and then ended. On the plus side the market has filled the gap from Monday. So know what happens???

I won't speak for everyone, but I was afraid that Monday was going to be like August 17 - the first of several down moves. Until I saw it turn upwards, I wasn't quite ready to get back in with my last IFT of the month. In hindsight, that beckoning gap above was calling so Monday would have been the day, but hopefully I will still catch some upward movement if it rebounds like the last two times it went below the 100 DMA.

 

[rangerray]

I won't speak for everyone, but I was afraid that Monday was going to be like August 17 - the first of several down moves. Until I saw it turn upwards, I wasn't quite ready to get back in with my last IFT of the month. In hindsight, that beckoning gap above was calling so Monday would have been the day, but hopefully I will still catch some upward movement if it rebounds like the last two times it went below the 100 DMA.

It's hard to buy because one gets to the point where it literally feels like gambling, rather than investing. I mean, it's been drilled into our heads for months on end that the big correction is coming. And, it's not like we don't all know that's true, but it's really hard to find equilibrium between what we THINK will happen and what is ACTUALLY happening.

 

[Bquat]

Playing with channel. Todays guess::cheesy:

 

[Bquat]

I still have a failure to reengage.:blink: Especially on House decisions this week and debt ceiling approaching::suspicious:

 

[Bquat]

I still have a failure to reengage.:blink: Especially on House decisions this week and debt ceiling approaching::suspicious:

Maybe that is a good thing::smile:

 

[Bquat]

I still have a failure to reengage.:blink: Especially on House decisions this week and debt ceiling approaching::suspicious:

If something doesn't pass maybe N1 and if we have a shutdown N2::notrust:

 

[Bquat]

100 DMA tested as resistance from below::worried:

 

[Bquat]

This can get bad. Spidey sense N2 me N1 or Orange. Spidey is concerned::worried:

 

[eastj]

Other factors could be at play here, but I think the main catalyst was the reaction to Hoyer. The downturn occurred around 11:30am, very close to the time Hoyer contradicted Pelosi about the bill passing.

"House Majority Leader Steny Hoyer told reporters “nope” when asked if he was confident that the bipartisan infrastructure would pass if it was brought to the floor today." - CNN

Senator Manchin also isn't making things easy. What a nightmare.

This can get bad. Spidey sense N2 me N1 or Orange. Spidey is concerned::worried: