Steve Rushton, Author at Trading the Line

About Steve Rushton

Shick-Shack

The market grinding sideways and slightly downwards, holding up (just) above support but showing some signs of deceleration. The breadth has turned negative indicating that there is some profit-taking going on and the momentum has turned flat.

Waiting for a catalyst to provide direction.

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

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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 May 28, 2018No Comments

S&P500 daily update

Outlaw

Another probe towards 2700 is bought back, still finding support at the lower edge of the recent range.

Market doesn't want to go down, not yet, but the oscillators are weakened now.

The additional projections of the T structure suggest a continual grind higher within the context of the recent range.

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

Steve Rushton May 25, 2018No Comments

S&P500 daily update

Morse

What hath God wrought

(Numbers 23:23),

first Morse code message transmitted in the U.S. on May 24, 1844

–

A gap down is held above 2700 in choppy trade until good news from the Fed brings buyers in to push the market back towards the previous high.

More evidence that the new T structure is larger than its original (red) projection suggesting further highs ahead, and the sudden move may have left significant numbers on the sidelines – more fuel for the fear of missing out catch up quick trade.

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

Steve Rushton May 24, 2018No Comments

S&P500 intraday update

Re: Market at 2733

A choppy day treading water between 2710 and 2720 waiting for some good news from the Fed to push the market up above the cover signal level.

Still on a Buy Signal.

Steve Rushton May 23, 2018No Comments

S&P500 daily update

Turtles

An echo high yesterday.

The gap up into 2742 is met by selling down into the 2735 area which held support until late afternoon selling pushed the market down to 2725.

Although potentially just a minor pullback in the up trend, the fact that it occurred at the same price level as the previous high suggests sideways or downwards and a potential re-test of rising support.

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

Steve Rushton May 23, 2018No Comments

S&P500 daily update

Fulk

Market gaps up above recent declining resistance, and then chops about inbetween 2726 and 2738, absorbing the move higher.

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

Steve Rushton May 22, 2018No Comments

S&P500 daily update

Lindbergh

The market drifts lower into May expiration, holding, just, above the Buy Signal level.

Oscillators weakening.

Pulling back or rolling over?

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

Steve Rushton May 20, 2018No Comments

S&P500 daily update

Acre

I stumble in and in you fit me with those angel wings
send me gold set me high set it up I'm in the sky
'til the storm is gone
and the temperature's high
and delight is dining
at my table

PJ Harvey, Victory, 1992

–

An indecisive day with a strong move up to 2732 repelled and a subsequent bounce off 2712.

Downward pressure from wednesday's projected high from the DB T structure and upward pressure from the new T structure pushing towards a high projected for today.

Some declining resistance from the recent high emerging to be negotiated IF the market is going to move higher.

Primary options expiration today should add at to the mix, as traders prepare for the next month's move.

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

Steve Rushton May 18, 2018No Comments

S&P500 daily update

Idaho

There is no gate, no lock, no bolt that you can set upon the freedom of my mind.

Virginia Woolf, A Room of One's Own, 1929

–

A push up into a projection for a high from the DB T structure and a pulse high and the market closes Tuesday's gap.

I have drawn in the possibilities for an extension of the current T structure, in case it is larger than the initial red structure from the recent high. Interestingly, we have projections for a major high or major low at the end of the month, an important turn perhaps. How the market responds after the red projection will be revealing.

Of course if the market follows through to the downside from the projections for highs yesterday it is certainly possible that this structure could collapse like the previous ones.

Put/call ratios are flashing a warning again.

Some caution is recommended.

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

Steve Rushton May 17, 2018No Comments

S&P500 daily update

Like a crime

All of this is mine
All of this is mine (this is mine)
Want it like a crime (this is mine)
Give these lips of mine (this is mine)

PJ Harvey, This is Mine

(From the soundtrack of Stella Does Tricks, 1996, Dir. Coky Giedroyc)

–

The market drops out of the gate and spends the day looking at 2700, back-filling, perhaps threatening to move lower, but holding up above the current support and Buy Signal level, for now.

A pulse high and another projection for a high today from the DB T structure, perhaps an attempt to fill yesterday's gap.

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

Steve Rushton May 16, 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.”
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