Thread: Bquat's Account Talk

Yeah, just like crude prices need to turn lower too. Cannot have one without the other. Appears they are now linked at the hip. 😳 Inflation is getting ugly for food and energy. Housing and rents are still ugly. Nothing that says stock market looks good. Need some more downside before we turn up. 🤷*♂️

Originally Posted by Bquat

Gap filled and needs to turn right now. Chart:

With the possible false breakout are we returning to the continuation pattern?

Not looking good

It is getting close for the Head and Shoulders to prevail. Need something fast to happen because it does look like the breakout is confirmed but is this all news related?

Breakout is confirmed. Looking for life support here and now:

Originally Posted by Bquat

Breakout is confirmed. Looking for life support here and now:

Fighting to get back above life support level:

I’m looking to bail on a sucker bounce. Maco economics weakening on oil surge, weakening consumer, debited student loans, high interest rates braking the economy, manufacturer continuing to weaken, high levels of US debt, impending government shutdown,, and china/taiwan conflict on the horizon. There is more crap ongoing like ovrblown housing and rapidly expanding of credit card debt. I wish that was all but I have not mentioned other problems. We got problems going forward that the FED just cannot control. Banks are stressed so boo hoo. Oh and thatrecession, well we are likely to see us inching closer in the last quarter. Maybe we get a one last gasp rally…I will hopely be there to get some gains for 2023.

The dip is being bought on a little support area but who knows what the news was? Still below the red life support line. Chart:

Chart:

Originally Posted by Bquat

Chart:

What do you think about seasonality going into October? I'm thinking of buying this dip and carrying it through until after a Christmas.

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Originally Posted by tom4jean

What do you think about seasonality going into October? I'm thinking of buying this dip and carrying it through until after a Christmas.

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I will look at longer-term for you but we may be seeing a bigger post head and shoulders drop. JMG

This may be a good time for patterns not working in a news based market