S&P500 daily update - Trading the Line

Banana

There she goes
There she goes again
Racing through' my brain
And I just can't contain
This feelin' that remains

The Velvet Underground, There She Goes Again, 1967
Songwriter: Lou Reed

–

Well, the Fed speaks and the market reacts providing traders with the brief opportunity to sell in the vicinity of the recent all time high, followed by a rapid descent which triggered a 'cover' signal at 2909.

At the very least we should now expect some kind of stabilisation phase as the market looks to find support, with the possibility of further selling.

Yesterday's action suggests to me that the current T structures may be complete, and that a corrective phase may now be necessary.

The rapid drop in the T volume oscillator since the high on Friday morning is flashing a warning as one would normally expect to see some follow through from a thrust in the oscillator, and so, for now, last week looks like distribution at the high.

Watch the declining angles from the high, rising support lines and averages, and the oscillators for signs of stabilisation as we wait for the next signal.

Be prepared for whatever is coming next, and trade with confidence:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line system before the market opens, and intraday alerts when appropriate, please become a Member and Sign up for Alerts & Observations – includes access to Members Area and the Explanatory Notes for all of the concepts discussed.

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 September 27, 2018No Comments

S&P500 daily update

Spindrift

The market continues to grind and drift lower within the channel, waiting for the catalyst from the Fed, perhaps for some further justification for higher prices, or a reason to sell.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 26, 2018No Comments

S&P500 daily update

Observer

The market drops out of the gate and takes a good look at Thursday's gap. Still within the channel and above the Buy Signal level, for now.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 25, 2018No Comments

S&P500 daily update

Enterprise

The market probes higher but struggles at 2940. This is in-line with a projection for a high from the recent T structure. Some consolidation at this level may be necessary. The T volume oscillator continues higher indicating that this is a thrust and we usually see higher prices in due course after a thrust.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 24, 2018No Comments

S&P500 daily update

Gypsy

I’m known by many different names,
My good friend Will calls me Puck and Robin Goodfellow,
I follow the Gypsy Faerie Queen
And I follow the Gypsy Faerie Queen

Marianne Faithfull, The Gypsy Faerie Queen feat. Nick Cave, 2018

–

A squeeze and 'pop' as the market moves up out of recent congestion and above the previous all time high.

The T volume oscillator thrusts higher in support of the move.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 21, 2018No Comments

S&P500 daily update

Absolute

The hypothesis of God, for instance, gives an incomparably absolute opportunity to understand everything and know absolutely nothing. Give man an extremely simplified system of the world and explain every phenomenon away on the basis of that system. An approach like that doesn't require any knowledge. Just a few memorized formulas plus so-called intuition and so-called common sense.

Arkady & Boris Strugatsky, Roadside Picnic, 1972

–

Chopping about in the vicinity of the all time high, waiting for a catalyst for higher prices or a reason to sell.

Price begining to squeeze.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 20, 2018No Comments

S&P500 daily update

Ghosts

Ghosts in the photograph
Never lie'd to me
I'd be all of that
I'd be all of that
A false memory
Would be everything
A denial my eliminent

Mogwai, Take Me Somewhere Nice, 2001

–

A recovery from Monday's selling and the market takes another look at the 2909 pivot.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 19, 2018No Comments

S&P500 daily update

Nerva

A pull-back after an echo high and after very short term projection for a high (small T).

Just holding onto the current Buy Signal.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 18, 2018No Comments

S&P500 daily update

Drips away

I got that feeling, that bad feeling that you don't know
I don't even know her but I hope that she comforts you tonight
Nobody here that keeps you in the shade and ever owned you
Some sentimental tears or someone else's girl that drips away

Massive Attack, The Spoils, 2016

Songwriter: Grant Marshall, Hope Sandoval, Stew Jackson

–

The current Buy signal continues with some consoldation above 2895 and some hesitation at the rising line looking back to late June, but assume grinding higher until price breaks below rising support indicates otherwise.

The OSc oscillator improves and is now neutral, whilst the T volume oscillator also remains in neutral.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 17, 2018No Comments

S&P500 daily update

Snowball

I love your eyes, my darling friend, their play so light and brightening. When a sudden stare up you send, and like a heaven-blown lightning, it'd take in all from end to end. But there's nothing more that I admire; your eyes when they are downcast. In bursts of love inspired fire, and through the eyelash goes fast – a longing, dull call of desire.

Dir: Andrei Tarkovsky, Stalker, 1979
Screenplay: Boris and Arkady Strugatsky

–

The market continues higher with a gap up, up above the channel and above recent congestion.

Improvement in the oscillators supports the move and the current Buy Signal continues.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton September 14, 2018No 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)

COVER Signal below 7776 on 14 October

...

S/T BUY Signal at 7691 on 04 September

S/T SELL Signal active below 7645 on 01 September

S/T BUY Signal at 7714 on 27 August

COVER Signal below 7737 on 18 August

S/T BUY Signal at 7413 on 30 July

...

S/T SELL Signal active below 7462 at 7440 on 26 July

COVER Signal below 7522 at 7440 on 17 July

S/T BUY Signal at 7398 on 29 June

S/T SELL Signal active below 7344 on 26 June

COVER Short Signal above 7361 on 25 June

S/T SELL Signal below 7422 on 23 June

COVER Signal below 7452 at 7365 on 23 June

S/T BUY Signal at 7500 on 18 June

COVER Short Signal at 7500 on 18 June

S/T SELL Signal at 7424 on 17 June

COVER Signal at 7454 on 17 June

S/T BUY Signal at 7404 on 11 June

COVER Short Signal at 7337 on 10 June

S/T SELL Signal at 7462 on 05 June

COVER Signal at 7553 on 05 June

S/T BUY Signal at 7586 on 04 June

COVER Signal at 7554 on 03 June

S/T BUY Signal at 7413 on 20 May

COVER Signal at 7411 on 15 May

S/T BUY Signal at 6457 on 31 Mar

COVER Short Signal above 6398 on 31 Mar

S/T SELL Signal at 6543 on 26 Mar

S/T BUY Signal above 6600 at 6620 on 25 Mar

COVER Short Signal above 6567 on 25 Mar

S/T SELL Signal below 6554 on 24 Mar

COVER Short Signal above 6581 on 24 Mar

S/T SELL Signal below 6554 on 24 Mar

COVER Short Signal above 6581 on 24 Mar

S/T SELL Signal below 6554 on 24 Mar

COVER Signal at 6590 on 23 Mar

S/T BUY Signal at 6623 on 23 Mar

COVER Short Signal above 6563 at 6600 on 23 Mar

S/T SELL Signal at 6666 on 18 Mar

COVER Signal at 6693 on 18 Mar

S/T BUY Signal at 6729 on 16 Mar

COVER Short Signal above 6668 at 6698 on 16 Mar

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.
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A meaningless argument among whores.
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A candlelit landscape of puddled wax.
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The parking lot at the Mall of Fears.
The fire-pit for the piggy roast.
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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.”
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The Gambler (2014), Dir. Rupert Wyatt