Steve Rushton, Author at Trading the Line

About Steve Rushton

Sell Short Signal (again) at 1952

OK, so you get a Buy Signal on monday – you sell.
You get a sell signal on tuesday – you buy.
You get a buy signal on wednesday – you sell.

Notice the magnitude is getting larger – remember the megaphone comments on Sept 23 at 1983.
Notice that the one day rallies are sold into

This must be a bear market cause everyone is getting taken out and beaten up.
This might be expected if we were below the 200 day ma (1904) but we aren't yet.

This leads me to suspect that this may be the tip of a much greater decline, perhaps a manic selloff into late October to re-charge the Bull, perhaps something worse. We have been warned.

Steve Rushton October 9, 2014No Comments

S&P500 daily update S&P500 signal

Buy Signal at 1960

A nice relief rally and close above the Buy Signal level of 1960.

Lots of potential resistance above – 55 Ema at 1971 and midpoint at 1979,
but the T Theory volume oscillator looks great.

Assuming that we can get through the resistance and close above 1983, then we have the potential for new highs.

It looks like we have a cluster of highs scheduled for oct 14 and 17 – into expiration.

Steve Rushton October 9, 2014No Comments

S&P500 daily update S&P500 signal

Continuation Sell Signal at 1948

Oops – an ugly reversal of the previous signal.

Of course the Fed may massage the markets. Otherwise we test the previous low of 1905 and see what happens next.

Steve Rushton October 8, 2014No Comments

S&P500 daily update

Pop and drop

OK we failed the initial pop, and failed to get above the 55ema, which were my reservations on the Buy Signal on Friday.

Futures are down 9 at this moment and if we fail to recover today, then another low may be required. Maybe test the prevous lows – 1926 and/or 1905.

Watch to see if we find some kind of support on one of the rising lines from the Oct 2 spike low, or Not.

Steve Rushton October 7, 2014No Comments

S&P500 daily update

Small T structure confirmed ?

Market recovered enough, and held on Friday afternoon to confirm a short term Buy Signal, and Futures are positive this morning so the expected follow through should remove any doubts.

It looks like the T will provide bullish strength into October 24.

Watch out for any failure below the S2 support angle, currently at 1985.

Steve Rushton October 6, 2014No Comments

S&P500 intraday update S&P500 signal

S/T Buy Signal at 1968

Heading into the Friday close we are holding above the 1965 Buy Signal level.

My only reservations are the proximity of the 55 ema at 1973 and possible 70 day high coming in about now which could see a pullback early next week.

Steve Rushton October 3, 2014No Comments

S&P500 daily update

Long spike down

Nice recovery from 1926 and maybe a turning point.

Plenty of buyers down there today, but need to see follow through tomorrow.

Steve Rushton October 3, 2014No Comments

S&P500 daily update

and now some real selling

Elevator down.

Reminders for future reference:

– use Vol. Oscillator low to determine peaks when there is a discrepancy between oscillator and price lows.
– when you have an oscillator sell signal in play, and then a token new high, look for a kiss goodbye of the rising trendline that it broke

And so where do we bounce?

Maybe here
But ideally a bit lower – 1930 or 1908

Watch for stabilisation just below or near to the grey lower boundary of the channel

Steve Rushton October 2, 2014No Comments

S&P500 daily update

More ugly

Weakness again and at the 55 ema which is a bad sign.
Failed to recover S2 support line

Maybe today's morning strength was the end of month rally.
Elevator down?

Steve Rushton October 1, 2014No Comments

S&P500 daily update

Rally into October

Holding onto the S2 support.
Looks like we could get a couple days of strength into resistance and to finish off this blue T structure.

And then I would expect a quick flush out to the 1930's, perhaps 1910's for an October Low and Buying opportunity into the Winter.

Steve Rushton September 30, 2014No 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 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.

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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.
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