Steve Rushton, Author at Trading the Line

About Steve Rushton

Are we there yet

Bounce target acheived yesterday, so we could certainly start to see some profit taking.
But secondary target now looking like 1925-1955.

Strength above the support/resistance line is suggestive of further strength. Watch to see if we crack here or next few days (as many seem to expect) or if we can stabilise above the mid channel and power higher.

OSC now on a Buy signal.

Steve Rushton February 18, 2016No Comments

S&P500 daily update

Bounce into expiration

Short term target for this bounce is between 1880 – 1920.
However we did close above the support/resistance line.
First arm of split T structure, and first T structure is Friday.

Do we get a drive upwards into expiration and then a reversal or a sell off?
Magnets at 1950, 1900, 1850, 1800

Steve Rushton February 17, 2016No Comments

S&P500 daily update S&P500 signal

S/T Buy Signal at 1860

Buy Signal in late trade, confirmed by the close.
T volume Oscillator also turns positive.

The 2nd low and oscillator divergence is a potentially good sign suggestive of a possible T structure pointing to March and April highs, maybe even 2025-2050.

However, we can expect significant resistance in the 1870-1920 area.

Watch the ellipse to confirm whether or not we are still in a strong down trend as the alternative suggestion is a target of 1750 – 1620.

Steve Rushton February 13, 2016No Comments

S&P500 daily update

Bounce or die

A bit of interest at the low of 1810. Are we ready to bounce here. $CPCE now suggestive of a low now or soon.

Steve Rushton February 12, 2016No Comments

S&P500 daily update

Much ado about nothing

Nice try but notice the reversal at the Support /resistance line, and therefore failure to set up a Buy Signal yesterday.

Need a close above 1872 to initiate a Buy Signal.

Steve Rushton February 11, 2016No Comments

S&P500 daily update

Grrr

Need to try and stay above 1850.
Notice the T volume oscillator has only just turned negative. Another Sell signal.
This either means we have a lot further down to go – maybe down as far as the MOB at 1730…
or we are setting up divergence for a rally. Needs to start soon.
All indicators are currently negative…

Steve Rushton February 10, 2016No Comments

S&P500 daily update

Hello 1850

With another long spike down below 1850, I guess the question is are we 'done yet'?
Maybe, but watch the rising support/resistance line to see if we get a similar recovery to October last year.

However the fact that we broke that line suggests to me that we are going lower at some point.

Steve Rushton February 9, 2016No Comments

S&P500 daily update

Squeeze

The break from that consolidation pattern was in the expected direction.
Probably going to try and stabilise at this level again.

Still looking for a move to the bollingers and then reverse.

Steve Rushton February 6, 2016No Comments

S&P500 daily update

Setting up a squeeze

Lots of indecision in direction and the bollingers indicating a squeeze is about to occur.
1960s or 1850s, perhaps both just to confuse everyone.

Steve Rushton February 5, 2016No Comments

S&P500 daily update

Oil rush

Market saved by strength in oil, and pull back in an up-trend completed.

Further strength now will suggest an assault on 1975 – the top of the grey channel, bollinger, and the 55MA.

Steve Rushton February 4, 2016No 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