Posts by Steve Rushton

Lupercalia was a very ancient, possibly pre-Roman pastoral annual festival, observed in the city of Rome on February 15, to avert evil spirits and purify the city, releasing health and fertility. Lupercalia was also called "dies Februatus", purified (literally "februated day") after the instruments of purification called "februa", which give the month of February (Februarius) its name.

Wikipedia

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The market continues to play catch me if you can, and the picture improves significantly.

A gap up open above the 55 ema with a quick spike down test is all, before another relentless move higher.

 As you can see the T volume oscillator has moved upwards through the recent cash-build up line with a rising w pattern at the recent deep low and this confirms the new large T structure with the projections for highs in the weeks to come.

Because the market has now risen strongly above the 55 ema, a secondary low or double bottom seems less likely now, and the current Buy Signal continues with strong momentum.

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.

 

The wintergreen, the juniper
The cornflower and the chicory
All the words you said to me
Still vibrating in the air
The elm, the ash and the linden tree
The dark and deep, enchanted sea
The trembling moon and the stars unfurled
There she goes, my beautiful world

Nick Cave and the Bad Seeds, There She Goes my Beautiful World…, 2004

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Quite a day, with a harsh mini-flash crash sell off in the Futures market prior to the open in reaction to the numbers issued. Quickly forgotten in early trade as the market held the Buy Signal level and then moved higher, rapidly. Buy Signal very much active, indeed.

The market regains its important short term averages, and the T volume oscillator moves up strongly through the recent cash-build up line and this now confirms the new Large T structure with projections for highs in late February and March.

The 4 day thrust higher from a panic low, a signature for the initiation of a long lasting move higher, adds to the bullish picture.

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.

 

Everybody sees
And everyone agrees
That you and I are wrong
And it's been that way too long
Take it as it comes
And be thankful when it's done
There's so many ways to act
And there's many shades of black
There's so many shades of black

The Raconteurs, Many Shades of Black, 2008
(Songwriters: Jack White /Brendan Benson)

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The market gaps up into 2650, fills the gap and finds support around 2625.

The subsequent move higher triggers an S/T BUY Signal which is not confirmed by the relatively weak close.

With the volatility levels still very high the risk of another sell-off is still high. Patience and caution is required.

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.

“It is not the strongest of the species that survives,
not the most intelligent that survives.
It is the one that is the most adaptable to change.”

Charles Darwin

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A deep probe below 2600 finally finds some strong support… at 2530 – which was strong support in the Futures market early last week and site of the 200 day moving average.

Looks like an important low, for now, with the T volume oscillator looking good and displaying positive divergence with price.

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.

 

My mind is in a state
'cause everything I miss it comes too late
So I try and disappear
But there is only one way out of here
This time, this time

My mind is in a state
But all I need to do is change my pace
And I know there's fear to face
But happiness is firm in its embrace

This time, this time

Unkle, In a State, 2003
Songwriters: Richard File / Antony Genn / James Lavelle

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Market drops out of the box, following through from the previous day and starts selling, relentlessly.

Now heading towards the recent low established by the Futures market at 2530 and into the lower extremes of the channel.

Still looking for the market to establish a low or series of low which will define the next large T structure(s), because it is the selling that creates the necessary fuel for the next major advance.

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.

 

Above the mountain, the mountain
An eagle is flying

High above the mountain
An eagle come down
To the soldier who falters
The soldier on the ground

By the mountain
I feel nothing
For in my own heart
Every tree is broken

The first tree will not blossom
The second will not grow
The third is almost fallen
Since you betrayed me so, since you 

PJ Harvey, The Mountain, 2007

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Market continues higher in early trade in an attempt to re-negotiate the 55 ema and the selling continues dragging into the close.

Sell Signal still 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.

 

After 20 years, you analyze a lot…
You know, remember people, heroism…
Many people come up to me and say, that, had they been there
They surely would have died. But no, it makes no sense…
Because until you're in a situation like that
You have no idea how you'll behave

Fronted by solitude without decadence or a…
Single material thing to prostitute and elevate you to a spiritual plane
Where I felt the presence of God
Now, there's the God they taught me about at school
And there is the God that's hidden…
by what surrounds us in this civilization
That's the God I met on the mountain

Words written by survivor Carlitos Paez and narrated by John Malkovich, for the film, Alive, 1993
Sampled in: Unkle ft Moby, In a State / God Moving Over the Face of the Waters, 2003

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Another significant gap down at the open is bought as the market finds some strong support at 2600 and throughout the day at 2625 until finally pushing higher towards 2700.

This is starting to look like the market may have found a support level.

Still very much a market for ambitious daytraders or those with extremely deep pockets and/or an appetite for risk.

With such large movements the risk still remains very high with a high possibility of re-testing the lows again in due course, sooner or later.

The Sell signal remains valid until the market reaches the Buy Signal level which is still considerably higher.

Dangerous conditions, hedge accordingly.

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.

 

See the steeple pine
The hills as old as time
Soon to be put to the test
To be whipped by the winds of the west

Stands on shifting sands
The scales held in her hands
The wind it just whips her away
And fills up her brigantine sails

She'll carry on through it all
She's a waterfall
She'll carry on through it all

She's a waterfall

The Stone Roses, Waterfall, 1989

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An ugly continuation of the selling from last week. The 20 point gap down open is initially bought and then sold into at breakeven, and the market accelerates lower finding almost no support until slamming into 2650 in late afternoon. A 50 point bounce is then sold into the close.

The market quickly dismissed some important 'support' in the 2715 area and this quickly opened the trap-door for a waterfall decline.

A lot of damage done as the market quickly re-corrects down towards the levels last seen in the Fall. We are now looking at a decline of the order of the August 2015 and January 2016 which leads me to believe that we will see some extensive corrective action ahead as the market adjusts to the collapse from the recent all time high.

The market is now thoroughly 'out of wack' with itself, and the signal levels are way, way above the current price. Dangerous conditions indeed. Hedge all positions carefully and thoroughly, locking in profits incremently.

 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.