Posts by Steve Rushton

Yesterday's close above 1872 is a cautious Buy Signal, which I think requires a bit of confirmation.

If we can stay above 1866 for anoyther day or 2 then I would be more committed.

More of the same. Perhaps but a large squeeze is setting up. So be prepared for a volatile move in either or perhaps in both directions. A slingshot maybe. If we get a Buy signal with the oscillator close to zero, take it seriously.

Doesn't want to go down, doesn't want to go up… something's gotta give.

Having confirmed the break of line 1. it seems like we may be moving in a downwards channel heading for either line 2. or line 3. with targets at 1834 or 1786 respectively.

Mixed signals. Wait for the oscillator to confirm the move, and/or wait for a closing price above or below the current congestion.

The upside would appear to be rather limited, and so I am inclined to favour the downside. However recent action is a reminder of how bullish the market is/has been.

The recent increase in daily volatility since beginning of 2014 is also suggesting that I will need to increase the intraday stops for the signals, hence 2 recent sell signals at the low of the day.

We did see a recovery of sorts so that the market is sitting right at the sell line. Frustrating indeed.

We are setting up for a large move, so we need to watch the oscillator now. If it recovers and moves above the upper black band then the large move may well be up. But at the moment the signals are sideways to downwards.

Choppy remains the order of the day with mixed signals still in place. The weak oscillator still suggesting lower prices perhaps after a token new high.

Starting to resolve to the upside.
Keep an eye on the oscillator as a move back above the black band would signal further strength and would probably be synchonised with a breakout to new highs. Short term target is 1894 – see what happens above.

Oops – if in doubt press the sell button! So the news is in and maybe that's all we needed.

Not quite a Sell signal so we will need to watch the action over the next few days to find out which way is the one of least resistance. Nice bounce off the previous support line at 1. so we should respect that for today.