A navigation system for trading the S&P500 index
Market chopped about in early trade, threatening to sell, and then rallied into the FED announcement before dropping back through 2650 confirming a sell signal at 2650.
As usual I recommend covering short positions at the close.
No CommentsThe market opens lower, triggering a Sell Signal at 2640 and probes 2626 before powering back into the close at 2654, cancelling the Sell Signal at even and showing support below the rising line from the April low.
The Osc oscillator makes a weak Buy Signal, echo-ing the triangulation in price.
The market is flattening off, and at some point, perhaps soon, it will make a decision on future direction.
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.
No CommentsShall I compare thee to a summer's day?
Thou art more lovely and more temperate:
Rough winds do shake the darling buds of May,
And summer's lease hath all too short a date.
William Shakespeare, Sonnet 18, 1608
–
A Mayday alert as the market opens up, takes a look at 2682 and moves lower, again, triggering a cover signal at 2656 and selling into the close.
Still trapped within the triangular 'holding pattern' and unable to break above declining resistance as the volatile chop continues.
And today is an echo high.
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.
No CommentsA gap up into 2682 is unsustainable and the market breaks down into the 2650s.
A late afternoon attempt to recover is quickly sold into at the close.
We will await the next signal.
No CommentsThe end of April and the beginning of the summer months.
The open gap up is not held and the market looks back at 2659 for support. Consolidation at the highs and finding some resistance here.
Market in equivalence holding above support lines but just below an important major pivot level.
Still in a holding pattern and a move up from here would release a significant amount of energy. A move downwards from here would again re-focus the market on the recent lows and the possibility of a deeper low.
What happens next will be important.
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.
No CommentsA strong bounce underway, with a gap and go day, pushing up through the Buy Signal level at 2662 and making a high on the day at 2676.
A dead cat bounce perhaps, and some residual projections for highs from the recent structures, the possibility of a small T centred on Tuesday's sell off, adn some end of month re-balancing.
Strength above 2680 would focus the market on challenging the recent high and weakness below 2640 would suggest more work to do below.
For now, a Buy Signal is active.
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.
No CommentsA very strong day with a slight pullback at the close, that suggests that the recent T structures are still active, and brings the recent highs of 2683 and 2717 back into focus.
No CommentsAn early flush to 2612 is bought back up and the market continues to stabilise throughout the day.
Sell Signal still active below the current price, but with the 2 spikes down the market appears to be holding up above 2635, for now.
Although weakened by Wednesday's heavy selling there is the possibility of some residual projections for highs towards the end of the month, perhaps a dead cat bounce prior to a more significant move down.
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.
No CommentsOvernight the market rises towards the Buy signal line and opens at the important 2680 level. Failure at this level and then subsequently also at 2660, initiates a sell sequence that ultimately finds the market 60 points lower, before a short-covering rally into the close.
An S/T Sell Signal is triggered at 2644, and a cover recommended at the or prior to the close as it is likely that the market will attempt to recover from the selling.
Yesterday's move down displays similarities with 02 February and 19 March with the market penetrating the Mid-channel in a decisive manner after a sequence which looks a bit like a megaphone – range expansion and dropping away.
On those 2 occasions we saw a bit of a bounce followed by a much deeper and significant low, presumably as the market resolves the problem that it is having with the current price level, and of course providing those with deep pockets the opportunity to buy at bargain prices.
And so, I suspect that we shall see some kind of bounce or recovery that those who didn't sell yesterday will sell into. Failure of that will trigger further selling, and then maybe we will see another move down to the lower extreme and to the pivot level at 2538.
The last few days selling comes at the recent projections for highs from the recent T structure and DB structure and the size of yesterday's move suggests that those structures are now complete and we should therefore look for a new structure to emerge.
Some strong target support lies in the 2510-2530 level and also in the 2530-2460 level, where the market may need to establish a deep low to form the next new large T structure.
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.
No CommentsThis morning's gap up into the 2680 area found little interest as traders sold into the gap.
Some interest in the 2670 area gave way to more selling and triggered an S/T SELL Signal at 2644
On Sell Signals such as this one I recommend covering at or prior to the close.
Cover temporarily at 2634
No Comments