Steve Rushton, Author at Trading the Line

About Steve Rushton

Le Déluge

Après moi le déluge
(Louis XV of France / RAF 617 Squadron Dambuster's motto)

A ferocious sell-off down into a hole at 2406 which just happens to be the 55 day ema and site of a long term rising Gann line form the Election low – an important test for the whole Trump rally.

This also marks a structural centre to the current rising trend and is right on a line which rises from the February 2015 highs.

Interestingly, yesterday is exactly in-line with the 5 April spike high and reverse day and is almost certainly in my mind an echo of that occurrence. This in turn reinforces the projections of the 'New T Structure' and we should therefore assume that the upcoming arms of the T will also be peaks at those times (not necessarily higher peaks).

As the market has clearly expanded its range and volatility, we should expect this to continue for a while, especially considering the upcoming cluster of Echo and Pulse highs that are projected for the next week or so.

Be prepared for whatever comes next:

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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 June 30, 2017No Comments

S&P500 intraday update S&P500 signal

ST SELL Signal at 2428

Market came down to the BUY / SELL signal level of 2428.

No bounce here, so the signal is short again.

–

Market dropped into a hole at 2406 – and bounced nicely with plenty of support there.

It looks like the selling stopped there and it seems like we are back on the way up (for now).

Market held onto most of its gains from the bounce, but didn't close back above the Sell Signal line.

–

Expect more highly volatile days ahead, be prepared for anything and hedge risk accordingly.

Steve Rushton June 29, 2017No Comments

S&P500 daily update

Peter & Paulie

"Forget about it" is, like, if you agree with someone, you know, like "Raquel Welch is one great piece of ass. Forget about it!" But then, if you disagree, like "A Lincoln is better than a Cadillac? Forget about it!" You know? But then, it's also like if something's the greatest thing in the world, like, "Minghia! Those peppers! Forget about it!" But it's also like saying "Go to hell!" too. Like, you know, like "Hey Paulie, you got a one-inch pecker?" and Paulie says "Forget about it!" Sometimes it just means "Forget about it."

– Donnie Brasco, 1997, Dir: Mike Newell

A snap-back short covering rally as the market breezes back up through the Buy Signal level.

Could be a small price T projecting into early July (if Tuesday's low is left behind us).

Still in the descending resistance zone and still within the recent range, and the current squeeze getting tighter.

Cluster of highs ahead suggesting further heavy choppiness.

T volume oscillator moves significantly higher indicating broad strength and breadth and support for the current T structure.

Be prepared for whatever comes next:

Steve Rushton June 29, 2017No Comments

S&P500 intraday update S&P500 signal

ST Buy Signal at 2437

A solid gap up and go day, and holding up above the Buy Signal level into the close.

Steve Rushton June 28, 2017No Comments

S&P500 daily update

Poznan

The market drops below the mid-channel support area and makes a Short signal at 2428.

Surprisingly, the T volume oscillator is still above zero.

Unless we get a rapid recovery (which is always a possibility), it looks like we will see some testing of the various strong support lines, and we will look for a new low to form a new T structure, which may still complement the possible gray extensions of the current T structure, unless the 17 May low is exceeded.

Be prepared for whatever comes next:

Steve Rushton June 28, 2017No Comments

S&P500 intraday update S&P500 signal

Cover at 2431 and Sell Signal at 2428

Price has dropped considerably since midday.

Cover signal at 2431

S/T Sell Signal activated at 2428.

Steve Rushton June 27, 2017No Comments

S&P500 daily update

Seven Sleepers

Another attempt at 2450 is rejected in early trade.

Conflicting signals – the T volume oscillator rises and confirms the prescence of a new small T and/or the extensions of the larger T structures into July, but the OSc oscillator is falling again due to the lack of momentum suggesting that any advance will be limited.

The squeeze tightens and we can expect more erratic choppiness.

Be prepared for whatever comes next:

Steve Rushton June 27, 2017No Comments

S&P500 daily update

Hamelin

“Rats
They fought the dogs and killed the cats,
And bit the babies in the cradles,
And ate the cheeses out of the vats,
And licked the soup from the cook's own ladles.
Split open the kegs of salted sprats,
Made nests inside men's Sunday hats,
And even spoiled the women's chats
By drowning their speaking
With shrieking and squeaking
In fifty different sharps and flats.”

– Robert Browning, The Pied Piper of Hamelin, 1842

The market holds up above the Buy Signal line into Friday's close.

An improvement in the oscillators, but the descending resistance line from the high is still active.

An apparent tight squeeze in preparation.

Be prepared for whatever comes next:

Steve Rushton June 24, 2017No Comments

S&P500 daily update

St John’s Fire

The festivals of St. John's Eve have roots in ancient celebrations related to the summer solstice.
Bonfires are lit to protect against evil spirits which were believed to roam freely when the sun was turning southward again.
[Wikipedia]

Market still in the process of stabilisation, and holding onto the Buy Signal line, for now.

Watch the descending resistance line for signs of a re-attempt at the highs.

Be prepared for whatever comes next:

Steve Rushton June 23, 2017No Comments

S&P500 daily update

Barbarossa

“If I'm not for myself, who will be for me?
If not this way, how? If not now, when?”

– Primo Levi, If Not Now, When?, 1982

The echo and pulse high on 19 June still in effect, and the significant drop in the T volume oscillator now brings the current T structure into doubt. It has also come to my attention that there has also been a correction in the breadth data for the 13 June which means that the full extensions of this T structure are not actually confirmed beyond the red sections.

And so the pop up to 2453 may just have been a Midsummer night's dream.

The market is still holding onto 'support' and still above the Buy Signal level, and so we can still consider this to be just a retracement of that move and that the market is back in a range demarcated by the recent highs and lows.

However, price is making a Warning and much further weakness could bring significant selling accompanied by a Sell signal in which case we would look for a new T structure to emerge from another significant low.

Be prepared for whatever comes next:

Steve Rushton June 22, 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 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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The Gambler (2014), Dir. Rupert Wyatt