Posts by Steve Rushton

Bounce on friday failed albeit only slightly, confirming the sell signal.

Watch the action at the 55 day ema now at 1828 as this can be a key pivot level.

A close above 1860 on monday would cancel the Sell Signal.

A strong sell signal yesterday creating quite a negative picture. I had expected a few more days of congestion in the 1870-1880 area, so my pre-market call yesterday after the recovery on wednesday was way off.

Unless we see a rapid recovery from here – a move above 1867 is a Buy signal – then we are now set up for a move down to 1810 or even 1775 towards the end of March as indicated by the MOB.

Tomorrow is the Ides of March – watch out for falling knives.

An interesting probe down and found support in the vicinity of line 2. Potentially a bullish signal.

Stuck between 1855 and 1882 and may need some time to resolve direction.

Changing position to LONG and SHORT at the open unless futures indicate a drop of more than 10 points (currently +3).

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.