Thread: Bquat's Account Talk

When did that gap show up? Since the Covid drop? The Power Point line is confusing me, we have to build slides? Just kidding, Gov't humor. If my massive bear flag theory holds, we have another 250 pts to go on your chart.

Originally Posted by Bquat

Spidey sense is giving me an alert and says we will need Plunge Protection Team help

No PPT help and I moved the line up and made it a red line where it acted as resistance two or three times. Established a Lower High line as potential longterm ( Catfish) channel. Today's action was not good because of rate hike fears and it wasn't really a buy the dip day:

I will probably redraw the midterm tomorrow. I hope this is an exhaustion move and not an acceleration of selling but Spidey is 60/40 with the catfish thingy. Just me guessing here because I have become an untrusting person on this current market

Redraw of Midterm channel. Support has now acted as resistance:

Little Bear flag. I will put back the red line if we get below it again. I am trying a bottom here but don't know if the Fed move is figured in yet:

Near term bottom? Recession may take us much lower...

Historically, recessions are not declared until nine months (on average) after they started.

Originally Posted by Bquat

Little Bear flag. I will put back the red line if we get below it again. I am trying a bottom here but don't know if the Fed move is figured in yet:

Looks like the Fed move was figured in:

Yeah, that was pretty uneventful..... But didnt this same thing kinda happen around May 4th when they did .50?? My date might be wrong, I'm not sure. It went up right after the hike, but then gave it back and then some the next day, and kept going down for like 5 days strait. Should be interesting to see how things play out over the next week or so.

Futures this morning are looking fugly.

Originally Posted by Epic

Yeah, that was pretty uneventful..... But didnt this same thing kinda happen around May 4th when they did .50?? My date might be wrong, I'm not sure. It went up right after the hike, but then gave it back and then some the next day, and kept going down for like 5 days strait. Should be interesting to see how things play out over the next week or so.

Originally Posted by Bquat

I will probably redraw the midterm tomorrow. I hope this is an exhaustion move and not an acceleration of selling but Spidey is 60/40 with the catfish thingy. Just me guessing here because I have become an untrusting person on this current market

Catfish thingy is happening and gap below is filled. Spidey is again correct and even though I had a bear flag I was hoping it was a bottom forming: