Thread: Bquat's Account Talk

While it may be overbought…momentum trading and human greed could take the market higher. However…the brief pause this morning does give me a good feeling that the market is digesting the run up. It is still go and persistent is my friend until it is not. 😆😆😱🥺

Any thoughts on the upcoming Debt Ceiling decision deadline and how that will sway the market one way or the other??? I'm confident that they will pass whatever they need to so we do not default, so will we get a positive or negative market reaction from that? It doesn't take much to freak out investors and send them running to safety, even if it appears to be good news.......

Originally Posted by Epic

Any thoughts on the upcoming Debt Ceiling decision deadline and how that will sway the market one way or the other??? I'm confident that they will pass whatever they need to so we do not default, so will we get a positive or negative market reaction from that? It doesn't take much to freak out investors and send them running to safety, even if it appears to be good news.......

I think they will extend it out a month at a time. Neither party wants a shutdown, and it won't be fully dealt with until after the vote on the build back better bill. So the debt ceiling may be a moot point. Just my guess.

So on the redraw is this a bear flag off the new longterm or a small bull flag off the midterm:

Originally Posted by Epic

Any thoughts on the upcoming Debt Ceiling decision deadline and how that will sway the market one way or the other??? I'm confident that they will pass whatever they need to so we do not default, so will we get a positive or negative market reaction from that? It doesn't take much to freak out investors and send them running to safety, even if it appears to be good news.......

House adopts bill opening door for lawmakers to raise debt ceiling, after Democrats, Republicans strike deal

https://www.washingtonpost.com/us-po...t-ceiling-deal

Originally Posted by Bquat

So on the redraw is this a bear flag off the new longterm or a small bull flag off the midterm:

I'm hoping the answer to your question is mid-term.

Testing last resistance line as support:

Playing with higher low for Midterm (Bear Flag?) and deciding that gap is filled: Just my guess

Things are looking weaker but there might be a chance this is a flat bottom developing:

Originally Posted by Bquat

Things are looking weaker but there might be a chance this is a flat bottom developing:

Longer top tail this morning. I hope this bottom holds up:

Below the rectangle so I dropped it. Testing previous bottom tails for support: