Posts by Steve Rushton

Refusing to budge at 1880. The longer we stay here the more likely a move up to 1900 becomes. Perhaps even 1920 at a stretch. But a break from here through line 2. signals a move to line 3.

Grinding away at the 1880 resistance level. Waiting for a signal.
Tight stop at 1866 on close or 1861 intraday.

First successful test of 1880 resistance and the Gann resistance line from 22 May peak. Looks strong and could grind slowly higher from here. Not even particularly 'overbought' here. Be alert for a sudden change.

Yesterday's pause for breath and then overnight strength in the Nikkei. 1880 may well be on for today…

Having taken out 1865 yeserday we are now within reach of 1880-1885 which takes us back up to a long term resistance angle projected from the May 22, 2013 peak. Can we go higher? Of course. If we can move up thru 1885 then 1940-50 becomes a potential target.

Survived the first major test of this recent bull move. Which way will we go – above 1867 or below 1835.

The oscillator has started to weaken, but we still have several lines of support before a short signal.

Starting to look a bit like May 22, 2013.

We start March in a great position, and a move above the important 1850 level. No reason to short this. We need to see a close above the grey channel or a weakening of the oscillator. The grind goes on.

Russia / Ukraine have put a negative bid on the opening – lets see if we can hold 1845 by the close. Futures have recovered a bit.