S&P500 daily update

From a rainstorm

“There is something to be learned from a rainstorm.
When meeting with a sudden shower, you try not to get wet and run quickly along the road.
But doing such things as passing under the eaves of houses, you still get wet.
When you are resolved from the beginning, you will not be perplexed, though you will still get the same soaking.
This understanding extends to everything.”

– Yamamoto Tsunetomo, Hagakure: The Book of the Samurai

Testing the Short Signal level once again but still within the chopshop zone and acting accordingly.

So long as the recent low holds we might expect to see some kind of grind away higher towards the descending resistance within the right-hand side of the small T structure.

Be prepared for whatever comes next:

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, 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 April 5, 2017No Comments

S&P500 daily update S&P500 signal

April Fool indeed

A Sell Signal generated in early trade but support found at 2345 – just above the rising angle from the most recent low – and a recovery into the afternoon cancelled out the Sell Signal, for now.

We are very much within the dangerous chopshop zone – where Sell Signals become Buy Signals and vice versa – and we should expect more chop in the days to come until the market makes a strong exit one way or another.

The T volume oscillator turns negative, flashing a warning signal, and weakening the current small T.

Be prepared for whatever comes next:

Steve Rushton April 3, 2017No Comments

S&P500 daily update

April Fool

Market finds repeated resistance at 2370 and equivalence at the Mid-channel.

Too much stability here leads to choppy days ahead as the balance of forces become too equal.

Be prepared for whatever comes next:

Steve Rushton April 1, 2017No Comments

S&P500 daily update

First quarter

Market heading up into potential resistance as we recover the majority of last week's gains, and a bit of a wobble or failure between 2370 and 2380 would seem likely (but not necessarily required) as we round off the first quarter and look forward to some April Fools.

Be prepared for whatever comes next:

Steve Rushton March 31, 2017No Comments

S&P500 daily update

Like sugar and spice

Market relaxing into the feel of things.

T volume oscillator makes a significant move higher above the zero line, adding additional credence to the signal and to the new T structure.

OSC oscillator looking like its turned and close to a OSC Buy Signal indicating that momentum looks up.

Be prepared for whatever comes next:

Steve Rushton March 30, 2017No Comments

S&P500 daily update

Like butter baby

And so the market powers back up through the previous layer of support / resistance to make an S/T BUY Signal and the Bull defends the important rising trend line off the previous highs.

Of course such a strong move up into an area of potential resistance may need some working off, and there is a scheduled pulse high for today, but yesterday's strength in breadth in the T volume oscillator has cut through the cash-build line from the 2400 peak and this confirms the prescence of a small T structure, projecting highs in April.

Be prepared for whatever comes next:

Steve Rushton March 29, 2017No Comments

S&P500 daily update

Bounce at the 55

A strong bounce off the 55 ema as the bears scramble to take profits on the 20 point drop at the open, and rally into resistance.

Price remains most definitely still in the bearish area as the important averages start folding over.

Another trip down seems likely, perhaps kicking and screaming, as the market seems reluctant to give up the February gains.

Be prepared for whatever comes next:

Steve Rushton March 28, 2017No Comments

S&P500 daily update

Challenging the 55

Futures down 20+ this morning leading the market down to the 55 ema – an important pivot line.

This of course may set up a bounce as the market continues to look for a level to stabilise at, but it also suggests a move to the next lower level around 2295.

Expect some wild moves over the next few days.

Steve Rushton March 27, 2017No Comments

S&P500 daily update

Snap Snap

No 'snap-back' just yet in an ugly week that really doesn't bode that well – and the longer we stay here the more likely a visit to the next lower level becomes.

Maybe we are waiting for something…

Be prepared for whatever comes next:

Steve Rushton March 24, 2017No Comments

S&P500 daily update

Consumption

In the kingdom of consumption the citizen is king.
A democratic monarchy: equality before consumption, fraternity in consumption,
and freedom through consumption.

Raoul Vaneigem

A valiant attempt at a rally and found resistance at 2359, site of the recent double tap lows.
Perhaps a fake out or a shake out. Still stabilising.

Sell signal still active, but we need to see deterioration in price to find commitment to the short side as the market works on the support level, and the T volume oscillator shows some signs of life and a divergence from price.

Be prepared for whatever comes next:

Steve Rushton March 24, 2017No 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 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

More Recommended

Reminiscences of a Stock Operator: Annotated Edition

by Jon D. Markman

With new commentary and Insights on the life and times of Jesse Livermore Reminiscences of a Stock Operator is the fictionalized biography of perhaps the most famous financial speculator of all time–Jesse Livermore. This annotated edition bridges the gap between Edwin Lefevre′s fictionalized account of Livermore′s life and the actual, historical events, places, and people that populate the book. It also describes the variety of trading approaches Livermore used throughout his life and analyzes his psychological development as a trader and the lessons gained through hard experiences.

“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