Posts by Steve Rushton

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.

Nice recovery from 1926 and maybe a turning point.

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

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

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?

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.

Nice rally on Friday but the short signal remains in play until we close back above1989 at least.

Not likely today due to very negative futures. But can we hold at 1955-60 ?

Possible next level of support at 1935 and then 1908 ish.

A nice relief rally off 1978, but not quite a Buy signal.
It does look like a replay of the previous bounce may occur – need to see follow through with conviction.

Note: similarity with March 27 low.

Dangerous markets ahead.

Back at the lower bollingers and looking for a support… maybe.

Still expecting a bounce in the 1970 area to complete this manouver.

Potentially ugly megaphone pattern emerging.

Sell Short Signal imminent but wait for confirmation from the 8 /21 trigger and/or end of the current T structures.