S&P500 daily update

Catherine liked high places
High up, high up on the hills
A place for making noises
Like whales
Noises like the whales
Here she built a chapel
With her image
An image on the wall
A place where she could rest and
And a place where she could wash
And listen to the wind blowing

PJ Harvey, The Wind, 1998

_

A consolidation day just below the high relieving some of the pressure from the recent surge.

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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.

 

He came riding fast like a phoenix out of fire flames
He came dressed in black with a cross bearing my name
He came bathed in light and the splendor and glory
I can't believe what the lord has finally sent me

PJ Harvey, The Dancer, 1995

_

The market grinds up to the 2830 pivot and then thrusts dramatically higher to 2846 – the price last seen on 26 January prior to the February collapse.

Mission accomplished?

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.

 

The market pops to the upside and heads for the important 2830 pivot and then rapidly reverses back down to 2812 to find support at the top of the channel.

This move was not (yet) supported by strength in the T volume oscillator or the Osc oscillator which are still displaying neutral properties, suggesting further sideways consolidation may be necessary if the market is to proceed higher.

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.

 

The market finds support at 2796 and grinds higher within the channel.

The T volume oscilaltor turns slightly negative and the Osc oscillator is close to a Sell Signal indicating that breadth and momentum may not be behind the current move and this makes the market vulnerable.

Still, the market is above the Buy Signal level, for now.

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.

 

Dog days continue as the market takes a breather and price catches up with itself a little.

Finding some resistance at the top of the channel suggests a continuation of the range-bound trading or perhaps preparation for a pull-back.

The T volume oscillator turns neutral and the Osc oscillator flattens off.

We might expect some further weakness whilst the market makes a decision whether the current T structure can draw strength from the earlier declines.

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.

 

A weak open and the market quickly tests 2800.

An echo high is scheduled for today.

Oscillators still holding up, for now.

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.

 

I'm gonna ask you to look away
I love my hands, but it hurts to pray
Life I have isn't what I've seen
The sky is not blue and the field's not green

Moby, Wait for Me, 2009

Songwriter: Daryl Hall

–

The market continues to probe higher, finding some resistance to price near the rising line from the May lows.

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.

 

I learned that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear.

Nelson Mandela

–

The market drops out of the gate, catches a bid and rallies to 2814.

This suggests that the additional projections of the recent small T structure are likely and that we may see further marking out and pushing higher with the upper range.

The next negotiation is the echo high scheduled for Friday.

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.

 

Firgun is an informal modern Hebrew term and concept in Israeli culture, which describes genuine, unselfish delight or pride in the accomplishment of the other.

–

The market takes a pause for breathe at 2800 in-line with the recent projection for a high.

A pullback of course is a possibility, or perhaps a marking out of an upper range.

Some signs of deceleration as the T volume oscillator drops towards the important zero level.

Today is another scheduled pulse high with perhaps a more important echo high on Friday.

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.

 

On July 16, 1945 the world witnessed the first atomic bomb test codenamed Trinity by the lead physicist J. Robert Oppenheimer, in a conflicted homage to John Donne’s poem:

Batter my heart, three-person'd God, for you
As yet but knock, breathe, shine, and seek to mend;
That I may rise and stand, o'erthrow me, and bend
Your force to break, blow, burn, and make me new.
I, like an usurp'd town to another due,
Labor to admit you, but oh, to no end;
Reason, your viceroy in me, me should defend,
But is captiv'd, and proves weak or untrue.
Yet dearly I love you, and would be lov'd fain,
But am betroth'd unto your enemy;
Divorce me, untie or break that knot again,
Take me to you, imprison me, for I,
Except you enthrall me, never shall be free,
Nor ever chaste, except you ravish me.

John Donne, Holy Sonnets: Batter my heart, three-person'd God, c. 1620

–

The market peeps above 2800 for a look-see at a high projected by the new small T structure with the possibility of some kind of pullback or consolidation now.

Whether there is more remains to be seen as this T could certainly be larger and could draw strength from the May declines. If that is the case we have projections into August.

For now, the market is well above the current Buy Signal level. Watch out for weakness developing in the oscillators for hints of further downside.

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.