Steve Rushton, Author at Trading the Line

About Steve Rushton

All Souls

Someone take these dreams away,
That point me to another day,
A duel of personalities,
That stretch all true realities.

That keep calling me,
They keep calling me,
Keep on calling me,
They keep calling me.

Where figures from the past stand tall,
And mocking voices ring the halls.
Imperialistic house of prayer,
Conquistadors who took their share.

That keep calling me,
They keep calling me,
Keep on calling me,
They keep calling me…

– Joy Division, Dead Souls, 1980 (In memory of Ian Curtis, 1956-1980)

–

A pop to new all time highs is met with profit-taking at the rising resistance / and long term magnet line.

The Osc oscillator shows momentum strengthening again indicating that there may be another wave of strength ahead.

The T volume oscillator rises slightly above its recent declining line and having made a small w pattern at its recent low is starting to display a bullish formation which may indicate further strength ahead in the form of a small T. This is the type of action that we look for at lows and to see this at an all time high is slightly unusual.

For now, these improvements indicate strong support for price at these levels – expect further probes to the upside whilst continuing to mark out the recent upper range.

Be prepared for whatever comes next:

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 November 2, 2017No Comments

S&P500 daily update

All Saints

Another inside day just below the highs.

We move into November and acknowledge the season's change, darker nights and colder weather ahead.

Be prepared for whatever comes next:

Steve Rushton October 31, 2017No Comments

S&P500 daily update

All Hallows

It's said that All Hallows' Eve is one of the nights when the veil between the worlds is thin – and whether you believe in such things or not, those roaming spirits probably believe in you, or at least acknowledge your existence, considering that it used to be their own. Even the air feels different on Halloween, autumn-crisp and bright.
– Erin Morgenstern

An inside day and a little profit-taking on the echo high in-line with expectations.

Expect further bobbing about within the upper range as the market re-charges and waits for another catalyst to provide direction.

Notice that the averages are playing catch up and there is the growing possibility of a squeeze.

Be prepared for whatever comes next:

Steve Rushton October 31, 2017No Comments

S&P500 daily update S&P500 signal

Milvian Bridge

Yesterday's gap up open triggered another S/T Buy Signal at 2568* and subsequently a strong rally into 2580.

Note that when a gap up holds firm the strong momentum associated with this move continues into a strong close at the highs – a gap and go close at the highs.

Note also that the Osc oscillator – a lagging indicator – is now making a Sell Signal. Although this does not necessarily mean that price cannot go higher it does suggest that price may not make significant advances yet as it is usually associated with consolidation phases.

In the meantime the current active large T structure* that is centred at the August low continues to push the market higher in-line with expectations. The precision of the last 3 important projections and the renewed strength confirmed by the Buy signal supports the projections for further highs in due course.

* If you would like to receive the price trigger levels prior to the open, and/or learn more about T Theory and how it accurately projects highs in the market, please subscribe to the service.

Be prepared for whatever comes next:

Steve Rushton October 28, 2017No Comments

S&P500 daily update

Constantine

A little bit of follow through from yesterday's bounce but this is sold into at the declining line from the recent high.

Still stabilising and position neutral. Momentum fading and close to an Oscillator sell signal.

Be prepared for whatever comes next:

Steve Rushton October 27, 2017No Comments

S&P500 daily update

Gunfight

There's always a man faster on the draw than you are,
and the more you use a gun, the sooner you're gonna run into that man.
– Gunfight at the O.K. Corral, 1957, Dir: John Sturges

Straight down from the open and quickly sliced through the 'cover signal line' into the mid channel for a strong recovery bounce that very nearly regained the Buy Signal line, but not quite.

This is follow through from the selling initiated by the projected high and echo high and leaves a nasty declining resistance line to be negociated in due course. It confirms 20 October as an important short term peak at the strong arm of the T structure.

There may well be some follow through from the bounce as we have another projected high for tomorrow and another echo high scheduled for tomorrow or Friday.

Be prepared for whatever comes next:

Steve Rushton October 26, 2017No Comments

S&P500 intraday update S&P500 signal

Cover Signal confirmed at 2559

A nasty drop and some relentless selling in the morning, followed by a sharp bounce and rally off the Mid-channel which is often an initial support on first visit.

Technically some damage done and just failed to close back above the important Buy Signal line.

Therefore a cover signal at 2559 for now whilst the market stabilises.

And that is a nasty declining angle from the all time high that we will need to negociate moving forwards

Steve Rushton October 25, 2017No Comments

S&P500 daily update

Saint Crispin’s

“From this day to the ending of the world,
But we in it shall be remembered –
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother; be he ne’er so vile,
This day shall gentle his condition;
And gentlemen in England now-a-bed
Shall think themselves accurs’d they were not here,
And hold their manhoods cheap whiles any speaks
That fought with us upon Saint Crispin’s day.”
– William Shakespeare, Henry V

Initial bounce sold into, some unfinished business maybe but still holding up above Friday's gap.

Be prepared for whatever comes next:

Steve Rushton October 24, 2017No Comments

S&P500 daily update

August Echo

The market opens at all time highs and initiates a retracement.

A slow but persistent day of selling displaying a distinct lack of buying power – the effects of an Echo high* and an important peak projection of the T structure.

How much of a retracement is required remains to be seen, but for now, the market is still well above the Buy signal line, and additional peaks are projected for later this week and into November.

It looks to me that we are now entering a period of sideways consolidation that could see additional highs and lows as the market defines its new upper range, whilst building energy for the next move.

* This is the first of a series of echo highs projected from the August period. For more information please subscribe to the daily updates.

Be prepared for whatever comes next:

Steve Rushton October 24, 2017No Comments

S&P500 daily update

Apples and oranges

Now that's the spirit !

Friday's push higher accurately projected by the T structure, with a solid gap up and go and close at the highs type day as the market continues to leave bystanders behind. This train waits for no one.

Momentum ticks up, as does the T volume oscillator.

This is also in-line with the scheduled echo high and so it remains to be seen whether this is an important peak or whether the additional projections will continue to lift the market higher next week. Hedge and lock in profits accordingly.

In the meantime, higher highs continue to beget higher highs. For those who still do not understand why the market is moving higher and will probably continue much higher in the coming months, please read my recent free reports.

Enjoy the weekend.

Be prepared for whatever comes next:

Steve Rushton October 21, 2017No 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 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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Reminiscences of a Stock Operator: Annotated Edition

by Jon D. Markman

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