Steve Rushton, Author at Trading the Line

About Steve Rushton

Oktober

Another reconnaissance, an attempt at the Buy Signal level and just touched before backing off.

We need to see a close above the Buy Signal level to initiate a move beyond the all time high.

Still, the market is holding up above key price levels, for now.

Osc oscillator confirms a sell signal and this either suggests that the next move will not be significantly higher or that there is downward pressure developing.

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 September 30, 2018No Comments

S&P500 daily update

Reconnaissance

And I follow, follow, follow,
The Gypsy Faerie Queen,
We exist, exist, exist, exist,
in the twilight in-between.

Marianne Faithfull, The Gypsy Faerie Queen feat. Nick Cave, 2018

–

A tale of two halves with the market heading higher in morning trade to trigger an S/T Buy Signal at 2920, but finding declining resistance in afternoon trade and backing right off, cancelling the signal for the time being.

Still very much within the declining environment since last Friday's reversal at 2940, but holding up above key levels, for now.

Cover signal continues.

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

Steve Rushton September 28, 2018No Comments

S&P500 daily update S&P500 signal

Banana

There she goes
There she goes again
Racing through' my brain
And I just can't contain
This feelin' that remains

The Velvet Underground, There She Goes Again, 1967
Songwriter: Lou Reed

–

Well, the Fed speaks and the market reacts providing traders with the brief opportunity to sell in the vicinity of the recent all time high, followed by a rapid descent which triggered a 'cover' signal at 2909.

At the very least we should now expect some kind of stabilisation phase as the market looks to find support, with the possibility of further selling.

Yesterday's action suggests to me that the current T structures may be complete, and that a corrective phase may now be necessary.

The rapid drop in the T volume oscillator since the high on Friday morning is flashing a warning as one would normally expect to see some follow through from a thrust in the oscillator, and so, for now, last week looks like distribution at the high.

Watch the declining angles from the high, rising support lines and averages, and the oscillators for signs of stabilisation as we wait for the next signal.

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

Steve Rushton September 27, 2018No Comments

S&P500 intraday update S&P500 signal

COVER Signal at 2909

Weakness developed after the Fed announcement and the market dropped hard into the closing bell triggering a Cover Signal at 2909.
A close below 2909 confirms the Signal.

Steve Rushton September 26, 2018No Comments

S&P500 daily update

Spindrift

The market continues to grind and drift lower within the channel, waiting for the catalyst from the Fed, perhaps for some further justification for higher prices, or a reason to sell.

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

Steve Rushton September 26, 2018No Comments

S&P500 daily update

Observer

The market drops out of the gate and takes a good look at Thursday's gap. Still within the channel and above the Buy Signal level, for now.

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

Steve Rushton September 25, 2018No Comments

S&P500 daily update

Enterprise

The market probes higher but struggles at 2940. This is in-line with a projection for a high from the recent T structure. Some consolidation at this level may be necessary. The T volume oscillator continues higher indicating that this is a thrust and we usually see higher prices in due course after a thrust.

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

Steve Rushton September 24, 2018No Comments

S&P500 daily update

Gypsy

I’m known by many different names,
My good friend Will calls me Puck and Robin Goodfellow,
I follow the Gypsy Faerie Queen
And I follow the Gypsy Faerie Queen

Marianne Faithfull, The Gypsy Faerie Queen feat. Nick Cave, 2018

–

A squeeze and 'pop' as the market moves up out of recent congestion and above the previous all time high.

The T volume oscillator thrusts higher in support of the move.

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

Steve Rushton September 21, 2018No Comments

S&P500 daily update

Absolute

The hypothesis of God, for instance, gives an incomparably absolute opportunity to understand everything and know absolutely nothing. Give man an extremely simplified system of the world and explain every phenomenon away on the basis of that system. An approach like that doesn't require any knowledge. Just a few memorized formulas plus so-called intuition and so-called common sense.

Arkady & Boris Strugatsky, Roadside Picnic, 1972

–

Chopping about in the vicinity of the all time high, waiting for a catalyst for higher prices or a reason to sell.

Price begining to squeeze.

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

Steve Rushton September 20, 2018No Comments

S&P500 daily update

Ghosts

Ghosts in the photograph
Never lie'd to me
I'd be all of that
I'd be all of that
A false memory
Would be everything
A denial my eliminent

Mogwai, Take Me Somewhere Nice, 2001

–

A recovery from Monday's selling and the market takes another look at the 2909 pivot.

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

Steve Rushton September 19, 2018No 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 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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“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.”
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“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