Thread: Bquat's Account Talk

Originally Posted by Mcqlives

And your yellow line was broke this morning...I am beginning to see the possibilities of hard breakdown here. 1726ish even (OUCH!) I am strongly thinking of bailing till I see which way this goes but at the same time I am seeing a chance that we will bounce off the 20 and it will all play out by tomorrow morning. Another hour and a half to decide...

The bulls are trying. You can tell this by the tails on the bottom. The bears are currently winning because of the lower highs and now lower lows. The current fight is at the 11 day. We have a 50/50 chance of the 20 day holding and I may move my buy up to 1774 which is 61.8 fib.
With current action the yellow channel has a 40/60 chance of holding. No trust though because the bottom of the white channel is acting as resistance.

Now we wait until the market determines this is a low base forming.

My H&S prediction has been met but the down candles are increasing in length. Look out my little buddies. The bottom of the yellow channel has been tested as resistance and we are dropping.

Originally Posted by Bquat

My H&S prediction has been met but the down candles are increasing in length. Look out my little buddies. The bottom of the yellow channel has been tested as resistance and we are dropping.

I'm back to the g pad after picking up almost another 2% (if we close at the current level today). Not complaining but I sure would have like to seen the 1826 area before this pull back!

Good movement after we got near the 20 day. I think it was more of the computers buying at 1% to take a look more than a support line. We still have a lower low and can still establish a lower high. bottom of white channel could still be resistance. So I left it in. DCB maybe after being 2% down.

I had to look that up. Dead cat bounce.

Looks like a bullish engulfing pattern but I'm looking for the dark orange line to hold but we'll see. Then there's the 11 day for still a lower high. I'm staying out at this point.

The rally from 1982 lows to the 1999 highs encompassed some 10,700 points - you don't really think we're done yet - that's a line from a movie.

Originally Posted by Bquat

Looks like a bullish engulfing pattern but I'm looking for the dark orange line to hold but we'll see. Then there's the 11 day for still a lower high. I'm staying out at this point.

Don't forget the other shoulder. The rebound so far today is not working off of any resistance lines...this could very well be a weak intraday bounce with no sustainability.

Nice bull flag but I need a higher high before I believe it. Still have a lower high today.

Originally Posted by Mcqlives

Don't forget the other shoulder. The rebound so far today is not working off of any resistance lines...this could very well be a weak intraday bounce with no sustainability.

Ok, all righty then: