Steve Rushton, Author at Trading the Line

About Steve Rushton

S&P500 intraday update S&P500 signal

COVER Signal at 3834

A look up at 3945 at the open is met with a reversal and strong persistent selling triggering a Cover Signal at 3834.

Cover Signal at 3834.

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Steve Rushton June 28, 2022No Comments

S&P500 daily update

Vitus

A choppy session consolidating Friday's gains with a look at 3925 at the open and a re-test late morning.

Buy Signal continues.

Sign up here for daily analysis with the updated Buy / Sell trigger levels being generated by the Trading the Line S/T System before the market opens. Trading the Line Membership – includes Explanatory Notes (pdf), Notes on Day Trading (pdf) and End of Day Snapshot of Day Trading Entries.

Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions

Steve Rushton June 28, 2022No Comments

S&P500 daily update

Arialdo

A gap up and go, with a very strong thrust heading higher into the close at the end of recovery week.

Buy Signal continues

Steve Rushton June 26, 2022No Comments

S&P500 daily update

Fortuna

A roller coaster day with a brief look at the Cover Signal line and then pushing higher into the close.

Buy Signal continues.

Steve Rushton June 23, 2022No Comments

S&P500 daily update

Golowan

An overnight challenge to the Buy Signal but with strong buying from the opening gap lower and reaching 3800 before dropping back into the close.

Buy Signal continues for now.

Steve Rushton June 22, 2022No Comments

S&P500 daily update

Windrush

Strong buying from the open, quickly above the Cover Short Signal line at 3738 and triggering a Buy Signal at 3756

An S/T Buy Signal at 3756.

Steve Rushton June 21, 2022No Comments

FREE REPORTS

Spectrum

All numbers refer to SPX

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The Bear Market of 2022 continues with volatile and dangerous conditions and some extremely rapid moves in both directions with selling into recovery advances and stepping lower becoming the norm.

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The theme of price collapse continues with drops into deeper lows followed by strong recoveries to previous points of 'disappointment'.

June continues with another rapid and destructive decline from the late May recovery into the early June highs – coincidently the site of the March lows and the point of previous strong buying for the recovery into the late March high. Now looking like an important pivot point.

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The T volume oscillator ¹ made another series of Buy Signals in the late April – early May timeframe and this led to the strong thrust higher into the late May high. The rapid and ugly decline from the initial projections for a high indicate that the overall structure continues to be extremely bearish and that the market is ultimately looking for a deep low or series of deep lows – a platform – from which to stage the next advance.

We are looking for some real signs of stabilization, a 'v' or 'w' pattern in price and oscillator and given the bearish price action we should look for the market to take out a previous high with strength, preferably with the T volume oscillator moving upwards through the long declining cash build up line ².

When that occurs we should see a significant lasting move back higher.

We are therefore prepared for a recovery but still mindful of the potential for lower prices from this level.

¹ The T volume oscillator is an indication of Buying Power within the market as a whole
² The cash build-up line is a declining line drawn above a series of lower highs made in the oscillator.

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The weekly chart provides a bigger picture of the current Large structure centered at the March 2020 low and projected the important early January high from the price peak in mid June 2018.

The collapse of this structure is looking increasingly bearish as price looks for a significant support level which of course could still be a lot lower.

We are of course looking at the left-hand side of a large T structure, still in its early development with its center yet to be defined.

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The monthly chart shows the series of Large structures that were collectively projecting highs for March and April 2022 and were extending the much larger Mega T structure. The collapse from the New Year high was rather ominous and was suggesting that the projections came in a little early, in which case the market is looking for a much more important low or series of lows for the next larger structure.

That could of course still be much lower.

…

2022 continues with price dropping sharply from the top of a range that has become increasingly expansive since the move above 2500. With price moving below the extremely volatile range from 4100-4600 we can only assume that this expansive price action will continue – in both directions – and that the important 2020 highs around 3385 and 3500 may now become the target. This is a Brave New World and we should trade accordingly.

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Regardless of whether the market can move higher or whether significant lows are ahead of us, the simplicity of the proprietary price based S/T Signalling System will continue to keep us on the correct side of the market, currently indicating a Sell Signal since 09 June at 4120.

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Although the market is keeping me extremely busy, I intend to launch a Mentoring Service in 2022 that will complement and expand upon the Trading the Line Subscription Service. Topics will include: T Theory, Position Trading, Day Trading, Price action, and Trading Psychology, and the intention is to provide traders with the full educational support that they may need to become successful.

If you would like to learn more about the S/T Signalling System , using T Theory or would be interested in the Mentoring Service , please get in touch.

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Be prepared for what is coming next and trade with confidence:

Steve Rushton June 20, 2022No Comments

S&P500 daily update

Spectrum

A day of stabilization attempting to hold the new low at 3640.

Sell Signal continues.

Dangerous market conditions.

Steve Rushton June 18, 2022No Comments

S&P500 daily update

Botolph

Another huge drop and more persistent selling – market in real trouble.

Sell Signal continues.

Dangerous market conditions.

Steve Rushton June 17, 2022No Comments

S&P500 daily update

Ford

A day of stabilization and a volatile recovery to 3837 before dropping back.

Sell Signal continues for now.

Dangerous market conditions.

Arms Index suggesting that a panic low is close to hand.

Steve Rushton June 16, 2022No Comments

“Simplicity is the ultimate sophistication.”
Leonardo da Vinci

“Imagination is more important than knowledge”
Albert Einstein

“All of our days are numbered. We can not afford to be idle. To act on a bad idea is better than to not act at all because the worth of the idea never becomes apparent until you do it. Sometimes this idea can be the smallest thing in the world; a little flame that you hunch over and cup with your hand and pray will not be extinguished by all the storm that howls about it. If you can hold on to that flame, great things can be constructed around it; things that are massive and powerful and world changing. All held up by the tiniest of ideas.”
Nick Cave, 20,000 days on Earth

2026 Positions

(All numbers refer to SPX)

S/T SELL Signal below 7422 on 23 June

COVER Signal below 7452 at 7365 on 23 June

S/T BUY Signal at 7500 on 18 June

COVER Short Signal at 7500 on 18 June

S/T SELL Signal at 7424 on 17 June

COVER Signal at 7454 on 17 June

S/T BUY Signal at 7404 on 11 June

COVER Short Signal at 7337 on 10 June

S/T SELL Signal at 7462 on 05 June

COVER Signal at 7553 on 05 June

S/T BUY Signal at 7586 on 04 June

COVER Signal at 7554 on 03 June

S/T BUY Signal at 7413 on 20 May

COVER Signal at 7411 on 15 May

S/T BUY Signal at 6457 on 31 Mar

COVER Short Signal above 6398 on 31 Mar

S/T SELL Signal at 6543 on 26 Mar

S/T BUY Signal above 6600 at 6620 on 25 Mar

COVER Short Signal above 6567 on 25 Mar

S/T SELL Signal below 6554 on 24 Mar

COVER Short Signal above 6581 on 24 Mar

S/T SELL Signal below 6554 on 24 Mar

COVER Short Signal above 6581 on 24 Mar

S/T SELL Signal below 6554 on 24 Mar

COVER Signal at 6590 on 23 Mar

S/T BUY Signal at 6623 on 23 Mar

COVER Short Signal above 6563 at 6600 on 23 Mar

S/T SELL Signal at 6666 on 18 Mar

COVER Signal at 6693 on 18 Mar

S/T BUY Signal at 6729 on 16 Mar

COVER Short Signal above 6668 at 6698 on 16 Mar

S/T SELL Signal at 6756 on 11 Mar

S/T BUY Signal above 6826 on 10 Mar

COVER Short Signal above 6792 on 10 Mar

S/T SELL Signal at 6765 on 10 Mar

COVER Short Signal above 6772 on 09 Mar

S/T SELL Signal below 6810 on 06 Mar

COVER Short Signal above 6822 on 05 Mar

S/T SELL Signal below 6822 on 05 Mar

COVER Signal below 6849 on 05 Mar

S/T BUY Signal at 6882 on 04 Mar

COVER Short Signal above 6849 on 04 Mar

S/T SELL Signal below 6845 on 03 Mar

COVER Short Signal above 6877 on 02 Mar

S/T SELL Signal below 6850 on 02 Mar

COVER Short Signal above 6857 on 27 Feb

S/T SELL Signal at 6857 on 27 Feb

COVER Signal below 6884 at 6857 on 27 Feb

S/T BUY Signal at 6884 on 23 Feb

COVER Short Signal at 6850 on 23 Feb

S/T SELL Signal at 6837 on 23 Feb

COVER Signal at 6864 on 23 Feb

S/T BUY Signal at 6883 on 18 Feb

COVER Short Signal at 6834 on 17 Feb

S/T SELL Signal at 6888 on 12 Feb

COVER Signal at 6915 on 12 Feb

S/T BUY Signal at 6899 on 06 Feb

COVER Short Signal at 6938 on 06 Feb

S/T SELL Signal at 6901 on 04 Feb

COVER Short Signal at 6915 on 03 Feb

S/T SELL Signal at 6915 on 03 Feb

COVER Signal at 6942 on 03 Feb

S/T BUY Signal at 6968 on 02 Feb

COVER Short Signal at 6938 on 30 Jan

S/T SELL Signal at 6910 on 30 Jan

COVER Signal at 6940 on 30 Jan

S/T BUY Signal at 6934 on 29 Jan

S/T SELL Signal at 6907 on 29 Jan

COVER Signal at 6934 on 29 Jan

S/T BUY Signal above 6905 at 6923 on 22 Jan

COVER Signal at 6849 on 21 Jan

S/T SELL Signal below 6894 at 6843 on 20 Jan

COVER Signal below 6925 at 6843 on 20 Jan

S/T BUY Signal at 6961 on 15 Jan

COVER Signal below 6934 at 6925 on 14 Jan

S/T BUY Signal above 6890 at 6900 on 05 Jan

COVER Short Signal at 6864 on 02 Jan

S/T SELL Signal at 6837 on 02 Jan

Mission

It has been my Mission to create a simple but effective method for investing in the stock market, so that I would always know what to do regardless of the circumstances.

The result is a rigorous system which allows the market to tell you what to do, when to Buy, when to Hold, when to Cover, and when to Sell, and it removes the need for you to have any opinion whatsoever.

And so, I present to you the diary of my personal trading system, and a record of the signals that it is producing. You are welcome to follow me along but please understand that the information posted here is for entertainment purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Please sign up for my occasional FREE REPORTS and if you would like to find out more and receive my email alerts and more detailed observations, please SIGN UP HERE

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Reminiscences of a Stock Operator: Annotated Edition

by Jon D. Markman

With new commentary and Insights on the life and times of Jesse Livermore Reminiscences of a Stock Operator is the fictionalized biography of perhaps the most famous financial speculator of all time–Jesse Livermore. This annotated edition bridges the gap between Edwin Lefevre′s fictionalized account of Livermore′s life and the actual, historical events, places, and people that populate the book. It also describes the variety of trading approaches Livermore used throughout his life and analyzes his psychological development as a trader and the lessons gained through hard experiences.

“In the end, I’m not interested in that which I fully understand. The words I have written over the years are just a veneer. There are truths that lie beneath the surface of the words... truths that rise up without warning, like the humps of a sea monster and then disappear. What performance and song is to me is finding a way to tempt the monster to the surface, to create a space, where the creature can break through what is real and what is known to us. This shimmering space where imagination and reality intersect... this is where all love and tears and joy exist. This is the place. This is where we live.”
Nick Cave 20,000 days on Earth

“If you're going to try, go all the way. Otherwise, don't even start. This could mean losing girlfriends, wives, relatives and maybe even your mind. It could mean not eating for three or four days. It could mean freezing on a park bench. It could mean jail. It could mean derision. It could mean mockery--isolation. Isolation is the gift. All the others are a test of your endurance, of how much you really want to do it. And, you'll do it, despite rejection and the worst odds. And it will be better than anything else you can imagine. If you're going to try, go all the way. There is no other feeling like that. You will be alone with the gods, and the nights will flame with fire. You will ride life straight to perfect laughter. It's the only good fight there is.”
Charles Bukowski, Factotum, 1975

>“The mind is a glass floor.
The mind is the spirit’s tear.
The mind is our prior and subsequent ghost.
The mind is the Bullion Express and the blood on the tracks.
The mind is a stone door.
The silver on the backs of mirrors.
The wave that defines the coast.
It’s what the drunk grave robbers couldn’t stuff in their sacks.
The mind is the sum of all and more.
The spasm between one and zero in the Calendar of Black-Hole Years.
The contract between the lash and the whipping post.
A quilt of dreams stitched with facts.
A meaningless argument among whores.
Rain that keeps falling when the sky clears.
A masquerade party, guest and host.
A candlelit landscape of puddled wax.
The mind is what thought is for.
The parking lot at the Mall of Fears.
The fire-pit for the piggy roast.
What the soul surrendered and won’t take back.
The mind is neither either nor or.
The real center of an empty sphere.”
Jim Dodge, Stone Junction, 1990

“The war is not meant to be won, it is meant to be continuous. Hierarchical society is only possible on the basis of poverty and ignorance. This new version is the past and no different past can ever have existed. In principle the war effort is always planned to keep society on the brink of starvation. The war is waged by the ruling group against its own subjects and its object is not the victory over either Eurasia or East Asia, but to keep the very structure of society intact.”
George Orwell

“There was a student... just the other day... who said that my problem, if one's nature is a problem, rather than just problematic, is that I see things in terms of victory or death, and not just victory but total victory. And it's true: I always have. It's either victory, or don't bother. The only thing worth doing is the impossible. Everything else is gray. You're born... as a man... with the nerves of a soldier, the apprehension of an angel, to lift a phrase, but there is no use for it. Here? Where's the use for it? You're set up to be a philosopher or a king or Shakespeare, and this is all they give you? This? Twenty- odd years of school which is all instruction in how to be ordinary... or they'll fucking kill you, they fucking will, and then it's a career, which is not the same thing as existence... I want unlimited things. I want everything. A real love. A real house. A real thing to do... every day. I'd rather die if I don't get it.”
The Gambler (2014), Dir. Rupert Wyatt