Steve Rushton, Author at Trading the Line

About Steve Rushton

Simancas

A gap up into the area of the previous high at 3900 is met with muted interest and an afternoon decline.

An end of day look just below the Cover Signal line at 3824 is quickly bought back keeping the Buy Signal alive for now,

Buy Signal active.

Sign up here for daily analysis with the updated Buy / Sell trigger levels being generated by the Trading the Line S/T System before the market opens. Trading the Line Membership – includes Explanatory Notes (pdf), Notes on Day Trading (pdf) and End of Day Snapshot of Day Trading Entries.

Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational 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.

Steve Rushton July 18, 2022No Comments

FREE REPORTS

Cremera

All numbers refer to SPX

…

Strong buying from Friday's open triggering an S/T Buy Signal at / above 3828 and remaining strong for the rmainder of the day.

An oscillator Buy Signal and a new small T.

Buy Signal active.

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A third attempt to recover the June losses, perhaps the beginings of a more sustainable advance from a higher low?

As we saw recently, there is a major 'pivot' in the 3900 area which may well need some more working off, but strength above this area should unleash considerable buying power and the possibility of another attempt on 4175.

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The T volume oscillator ¹ made a strong Buy Signal in the days after the June low, with a 'w' pattern and a movement in the oscillator upwards through a steep cash build up line ^2.

It looks like we are seeing a similar phenomenon since the reversal low on 14 July with a new small T, suggesting that there is a larger structure under construction.

Given the bearish price action of the last few months, we should look for the market to take out the previous high with strength.

When that occurs we should see a significant lasting move back higher.

We are therefore prepared for a recovery but still mindful of the potential for lower prices from this level.

¹ The T volume oscillator is an indication of Buying Power within the market as a whole
² The cash build-up line is a declining line drawn above a series of lower highs made in the oscillator.

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The weekly chart shows the market attempting to hold support at the breakout level 3580-3620.

Further strength would suggest that we may now be seeing a final low and that there is a larger T under construction.

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The monthly chart continues to show the collapse from the Large structures which extended the Mega Structure into 2022. Not much to go on but holding up above the June close of 3785 is a good sign with 4000 an important area to proceed beyond if the bull market is to resume.

…

2022 continues with price dropping sharply from the top of a range that has become increasingly expansive since the move above 2500. With price below the extremely volatile range from 4100-4600 we can only assume that this expansive price action will continue – in both directions – and that the important 2020 highs around 3385 and 3500 may still become the target. This is a Brave New World and we should trade accordingly.

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Regardless of whether the market can move higher or whether significant lows are ahead of us, the simplicity of the proprietary price based S/T Signalling System will continue to keep us on the correct side of the market, currently indicating a Buy Signal since 15 July at 3828.

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Although the market is keeping me extremely busy, I intend to launch a Mentoring Service in 2022 that will complement and expand upon the Trading the Line Subscription Service. Topics will include: T Theory, Position Trading, Day Trading, Price action, and Trading Psychology, and the intention is to provide traders with the full educational support that they may need to become successful.

If you would like to learn more about the S/T Signalling System , using T Theory or would be interested in the Mentoring Service , please get in touch.

–

Be prepared for what is coming next and trade with confidence:

Steve Rushton July 18, 2022No Comments

S&P500 intraday update S&P500 signal

S/T Buy Signal at 3828

Strong buying from the open triggering an S/T Buy Signal at / above 3828 and remaining strong for the remainder of the day.

An S/T Buy Signal at 3828

…

Steve Rushton July 15, 2022No Comments

S&P500 daily update

Dioscuri

Another huge overnight drop triggering a Sell Signal below 3802 but making short entry difficult and high risk.

Stabilization at 3825 and strong buying from the low into 3767 and a second push higher from 3744 to 3795 for an attempt to close the morning gap.

Sell Signal active but market attempting to place and hold a low.

Volatile and dangerous conditions.

Steve Rushton July 15, 2022No Comments

S&P500 daily update

Bastille

A huge drop in pre-market, well below the Sell Signal line making entry difficult and high risk, attracts buyers at 3665-70 for an extremely choppy session, closing just above the Sell Signal line.

Volatile and dangerous conditions.

Steve Rushton July 14, 2022No Comments

S&P500 daily update

Mystica

An early push higher into 3873 stalls, dropping back to 3840. A second attempt stalls at 3862 initiating a decline in afternoon action and a touch of the Sell Signal line at 3804 for a bounce just before the close.

Cover Signal continues.

Steve Rushton July 13, 2022No Comments

S&P500 daily update

Solemnity

A gap lower into a Cover Signal at 3859.

A very choppy day with a push back above the morning highs and a look at 3880 before dropping back into the close.

Cover Signal at 3859.

Steve Rushton July 12, 2022No Comments

S&P500 intraday update S&P500 signal

Cover Signal at 3859

A gap lower into a Cover Signal at 3859.

A very choppy day with a push back above the morning highs and a look at 3880 before dropping back into the close.

Cover Signal at 3859.

…

Steve Rushton July 11, 2022No Comments

FREE REPORTS

Mockingbird

All numbers refer to SPX

…

The sharp shake out drop after Independence is bought with a renewed S/T Buy Signal at 3809 pushing up into the previous highs just above 3900.

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A second attempt to recover the June losses, perhaps the beginings of a more sustainable advance from a higher low.

For now there is a major 'pivot' in the 3900 area which may well need some more working off, but strength above this area should unleash considerable buying power and the possibility of another attempt on 4175.

Save the image to your desktop to view a larger version

The T volume oscillator ¹ made a strong Buy Signal in the days after the June low, with a 'w' pattern and a movement in the oscillator upwards through a steep cash build up line ^2.

The stabilization and retracement of the late June decline suggests that that Buy Signal is still active.

Given the bearish price action of the last few months, we should look for the market to take out the previous high with strength.

When that occurs we should see a significant lasting move back higher.

We are therefore prepared for a recovery but still mindful of the potential for lower prices from this level.

¹ The T volume oscillator is an indication of Buying Power within the market as a whole
² The cash build-up line is a declining line drawn above a series of lower highs made in the oscillator.

Save the image to your desktop to view a larger version

The weekly chart continues to provide a bigger picture of the Large structure centered at the March 2020 low and projected the important early January high from the price peak in mid June 2018.

The collapse of this structure with price stepping lower from subsequent attempts to recover has looked increasingly bearish, but the recent attempt to hold above the low at 3636 is looking more promising.

We are of course looking at the left-hand side of a large T structure, still in its early development with its center yet to be confirmed. Holding onto weekly and then monthly gains would be required to change that perspective and would activate considerable power to the upside.

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The monthly chart shows the series of Large structures that were collectively projecting highs for March and April 2022 and were extending the much larger Mega T structure. The collapse from the New Year high was rather ominous and was suggesting that the projections came in a little early, in which case the market has been looking for an important low or series of lows for the next larger structure.

Although last month's spike low is encouraging, we may need to see further tests or a deeper low in due course.

…

2022 continues with price dropping sharply from the top of a range that has become increasingly expansive since the move above 2500. With price moving below the extremely volatile range from 4100-4600 we can only assume that this expansive price action will continue – in both directions – and that the important 2020 highs around 3385 and 3500 may still become the target. This is a Brave New World and we should trade accordingly.

–

If you would like to learn more about the S/T Signalling System , using T Theory or would be interested in the Mentoring Service , please get in touch.

–

Be prepared for what is coming next and trade with confidence:

–

Steve Rushton July 10, 2022No Comments

S&P500 daily update

Olive Branch

A strong move up from the open and pushing higher for most of the day

Buy Signal continues.

Steve Rushton July 8, 2022No 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 at 6756 on 11 Mar

S/T BUY Signal above 6826 on 10 Mar

COVER Short Signal above 6792 on 10 Mar

S/T SELL Signal at 6765 on 10 Mar

COVER Short Signal above 6772 on 09 Mar

S/T SELL Signal below 6810 on 06 Mar

COVER Short Signal above 6822 on 05 Mar

S/T SELL Signal below 6822 on 05 Mar

COVER Signal below 6849 on 05 Mar

S/T BUY Signal at 6882 on 04 Mar

COVER Short Signal above 6849 on 04 Mar

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.

Please sign up for my occasional FREE REPORTS and if you would like to find out more and receive my email alerts and more detailed observations, please SIGN UP HERE

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“In the end, I’m not interested in that which I fully understand. The words I have written over the years are just a veneer. There are truths that lie beneath the surface of the words... truths that rise up without warning, like the humps of a sea monster and then disappear. What performance and song is to me is finding a way to tempt the monster to the surface, to create a space, where the creature can break through what is real and what is known to us. This shimmering space where imagination and reality intersect... this is where all love and tears and joy exist. This is the place. This is where we live.”
Nick Cave 20,000 days on Earth

“If you're going to try, go all the way. Otherwise, don't even start. This could mean losing girlfriends, wives, relatives and maybe even your mind. It could mean not eating for three or four days. It could mean freezing on a park bench. It could mean jail. It could mean derision. It could mean mockery--isolation. Isolation is the gift. All the others are a test of your endurance, of how much you really want to do it. And, you'll do it, despite rejection and the worst odds. And it will be better than anything else you can imagine. If you're going to try, go all the way. There is no other feeling like that. You will be alone with the gods, and the nights will flame with fire. You will ride life straight to perfect laughter. It's the only good fight there is.”
Charles Bukowski, Factotum, 1975

>“The mind is a glass floor.
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.
The mind is a stone door.
The silver on the backs of mirrors.
The wave that defines the coast.
It’s what the drunk grave robbers couldn’t stuff in their sacks.
The mind is the sum of all and more.
The spasm between one and zero in the Calendar of Black-Hole Years.
The contract between the lash and the whipping post.
A quilt of dreams stitched with facts.
A meaningless argument among whores.
Rain that keeps falling when the sky clears.
A masquerade party, guest and host.
A candlelit landscape of puddled wax.
The mind is what thought is for.
The parking lot at the Mall of Fears.
The fire-pit for the piggy roast.
What the soul surrendered and won’t take back.
The mind is neither either nor or.
The real center of an empty sphere.”
Jim Dodge, Stone Junction, 1990

“The war is not meant to be won, it is meant to be continuous. Hierarchical society is only possible on the basis of poverty and ignorance. This new version is the past and no different past can ever have existed. In principle the war effort is always planned to keep society on the brink of starvation. The war is waged by the ruling group against its own subjects and its object is not the victory over either Eurasia or East Asia, but to keep the very structure of society intact.”
George Orwell

“There was a student... just the other day... who said that my problem, if one's nature is a problem, rather than just problematic, is that I see things in terms of victory or death, and not just victory but total victory. And it's true: I always have. It's either victory, or don't bother. The only thing worth doing is the impossible. Everything else is gray. You're born... as a man... with the nerves of a soldier, the apprehension of an angel, to lift a phrase, but there is no use for it. Here? Where's the use for it? You're set up to be a philosopher or a king or Shakespeare, and this is all they give you? This? Twenty- odd years of school which is all instruction in how to be ordinary... or they'll fucking kill you, they fucking will, and then it's a career, which is not the same thing as existence... I want unlimited things. I want everything. A real love. A real house. A real thing to do... every day. I'd rather die if I don't get it.”
The Gambler (2014), Dir. Rupert Wyatt