Steve Rushton, Author at Trading the Line

About Steve Rushton

Rikyu

Another turbulent day with a touch of the Buy Signal level at 2822 and a sell off through the Sell Signal level at 2794 before recovery back above 2800.

The market is currently trapped within the channels and chopping about violently making holding a position extremely difficult, and is in effect preparing for the next big move, direction uncertain.

Be prepared for whatever is coming next, and trade with confidence:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line system before the market opens, and intraday alerts when appropriate, please become a Member and Sign up for Alerts & Observations – includes access to Members Area and the Explanatory Notes for all of the concepts discussed.

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 March 28, 2019No Comments

S&P500 daily update

Menaechmi

Teach me, dear creature, how to think and speak;
Lay open to my earthy-gross conceit,
Smother'd in errors, feeble, shallow, weak,
The folded meaning of your words' deceit.

William Shakespeare, The Comedy of Errors, c. 1594

…

A Buy Signal at 2821, as the market gaps up to have a look-see at 2829 before selling off hard and descending back to 2804, triggering a cover signal. Finally finding strong support and recovering into the close.

An unstable and confusing market.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton March 27, 2019No Comments

S&P500 daily update

Mighty Mountain

I'm in so deep
Baby, I can't sleep
Floating above me, the armies of the captain
Marching towards the mountain, the mighty mountain
In the car window I saw you smile
The screams of traffic
Flying through the streets, I saw it again
You and the captain
His armies surround you
Leading me off the edge
Of the mighty mountain

The mountain's falling

David Lynch & John Neff, Mountains Falling, 2001

…

A choppy day of stabilization after the harsh drop on Friday.

Sell Signals triggered below 2793 but not much follow through on either occasion.

Price remains above the Sell Signal level and below the Buy Signal level.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton March 26, 2019No Comments

S&P500 signal

S/T SELL Signal at 2793

S/T Sell Signals triggered at 2793 on 2 occasions but little follow through on either.

Stopped out of the first signal at 2804 and covered the second signal at the close at 2798.

Market in stabilization mode.

…

Steve Rushton March 25, 2019No Comments

S&P500 daily update

Medal

When night comes down
You lock the door.
The book falls to the floor.
As darkness falls
The waves roll by,
The seasons change
The wind is wry.

Now wakes the hour
Now sleeps the swan
Behold the dream
The dream is gone.
Green fields are calling
It's falling, in a golden door.

Pink Floyd, A Pillow of Winds, 1971, from Meddle
(Roger Waters, David Gilmour)

…

An about turn as the market finds price unsustainable at the upper extreme of the channel and profit-taking becomes strong selling.

Price moves below the Cover Signal level at 2825 and the T volume oscillator drops significantly below the important zero level.

A strong upward move followed by a collapse in price and breadth is characteristic of the end of a T structure and this has occurred just prior to an important projection for a high relative to the all time high in September 2018.

We should expect to see price look for a low or series of lows, and stabilize prior to the next advance.

We await the next signal.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton March 25, 2019No Comments

S&P500 intraday update S&P500 signal

COVER Signal at 2825

The market drops hard and volatility returns with a vengeance, revealing yesterday's rally to be an exhaustion move, followed by a lack of buying power – the characteristic of the end of a T structure.

A Cover Signal at 2825 is triggered and although there was some strong buying in the afternoon, the collapse in price in the last hour says it all.

So now we await the next signal.

…

Steve Rushton March 22, 2019No Comments

S&P500 daily update

The river is everywhere

"Have you also learned that secret from the river; that there is no such thing as time?" That the river is everywhere at the same time, at the source and at the mouth, at the waterfall, at the ferry, at the current, in the ocean and in the mountains, everywhere and that the present only exists for it, not the shadow of the past nor the shadow of the future.

Hermann Hesse, Siddhartha, 1922

…

The market throws caution to the wind and heads higher in a buying and short-covering frenzy that places price back near the upper extreme of the channel.

Today is a scheduled pulse high and the Put/Call ratios flash a warning that the market is not surprisingly somewhat vulnerable to a decline.

The oscillators remain subdued considering the rapid advance in price.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton March 22, 2019No Comments

S&P500 daily update

Intuition, reason and desperation

At the most marginal of opportunities, Jake was fond of telling anyone within earshot the three great secrets of how to proceed when you don't have the vaguest idea what you're doing. The secrets, in the order he invariably listed them, were intuition, reason, and desperation.

Jim Dodge, Fup, 1983

…

The market drops out of the gate, struggles, takes a look at 2813, bounces, rips higher on Fed-speak, and fades. Hard.

Confusing ain't it.

Further signs of deceleration of the trend as the oscillators turn neutral, and the market looks like it is entering an endgame phase with strong selling from highs.

Caution is recommended.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton March 21, 2019No Comments

S&P500 daily update

Ostara

Ostara or Eostre – the pagan festival of spring and fertility, the vernal equinox, light and day in equilibrium

…

The market pushes higher to have a look-see at 2852 before initiating heavy profit-taking, and warning that another price target has been achieved.

Today is another scheduled echo high and there are several projections for important highs within the next few days suggesting more choppy and toppy action ahead.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton March 20, 2019No Comments

S&P500 daily update

Falles

The first time, ever I saw your face
I thought the sun rose in your eyes
And the moon and the stars
Were the gifts you gave
To the dark, and the endless skies
My love
To the dark, and the endless skies

Roberta Flack, The First Time Ever I Saw Your Face, 1969
(Songwriter: Ewan McColl)

…

The market pushes decisively upwards at the breakout area above 2820.

The Put/Call ratios flash a 'warning', perhaps not surprisingly given the strength in price, but making the market somewhat vulnerable as it moves into projections for an important high in the days ahead.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton March 19, 2019No 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 BUY Signal at 7398 on 29 June

S/T SELL Signal active below 7344 on 26 June

COVER Short Signal above 7361 on 25 June

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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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