Thread: Bquat's Account Talk

Hmm, still counting lower highs are we? Something has to give:

Originally Posted by Bquat

Hmm, still counting lower highs are we? Something has to give:

I'm wondering if seasonality will rule the trans and we see a breakout?

Originally Posted by Bquat

No but I did put a blue line there. It may be bad news yesterday is good news against a FED rate hike. 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: 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:

And the yellow line continues into Monday:

Originally Posted by Mcqlives

I'm wondering if seasonality will rule the trans and we see a breakout?

Maybe? So is this a long enough time frame for a cup and handle: Anybody?

Originally Posted by Bquat

Maybe? So is this a long enough time frame for a cup and handle: Anybody?

Nice catch! I have been looking at the trans a lot the past 2 weeks and didn't even glimpse that pattern til you posted it. Not a typical "cup" but at this point I'll take any pattern I can find to make sense of what is going on.

I hope this week continues to trend up with the fed meeting pending...but with China doing another QE step I don't think the fed will raise rates yet.

I hope you and yours are doing well and staying dry!

Originally Posted by Mcqlives

Nice catch! I have been looking at the trans a lot the past 2 weeks and didn't even glimpse that pattern til you posted it. Not a typical "cup" but at this point I'll take any pattern I can find to make sense of what is going on.

I hope this week continues to trend up with the fed meeting pending...but with China doing another QE step I don't think the fed will raise rates yet.

I hope you and yours are doing well and staying dry!

I'm as far west as you can get in Texas. It will be East of me.

No but I did put a blue line there. It may be bad news yesterday is good news against a FED rate hike. 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: 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:
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:

Originally Posted by Bquat

No but I did put a blue line there. It may be bad news yesterday is good news against a FED rate hike. 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: 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:
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:

So no rate change is bad news? No it's good news. Initially down then up:

Originally Posted by Bquat

So no rate change is bad news? No it's good news. Initially down then up:

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?