S&P500 daily update

Thanksgiving

It is through gratitude for the present moment that the spiritual dimension of life opens up.
– Eckhart Tolle

I would like to thank all my readers and wish you all a wonderful Thanksgiving.

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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 & 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.

Steve Rushton November 23, 2016No Comments

S&P500 daily update

Please, sir, I want some more

'Please, sir, I want some more.'
The master was a fat, healthy man; but he turned very pale. He gazed in stupified astonishment on the small rebel for some seconds, and then clung for support to the copper. The assistants were paralysed with wonder; the boys with fear.
'What!' said the master at length, in a faint voice.
'Please, sir,' replied Oliver, 'I want some more.'

– Charles Dickens, Oliver Twist, 1837-9

Break through to new all time highs activates the 'Make or Break' projection – a very useful tool built into the Advanced Get software - from the August peak.

This target area is 2210-2220. Push into Thanksgiving. Game on.

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Steve Rushton November 22, 2016No Comments

S&P500 daily update

Turkey Shoot

A gentle pullback on expiration day as traders re-position for December.

Still looking for a grind higher into Thanksgiving. Gotta go shoot that turkey…

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Steve Rushton November 19, 2016No Comments

S&P500 daily update

November expiration

November expirartion and a shortened holiday week to look forward to.

Market within spitting distance of new all time highs, and looking strong indeed.
Keep an eye on the rising resistance line from the Brexit low for any signs of topping off.

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Steve Rushton November 18, 2016No Comments

S&P500 daily update

Pressure release

A gentle easing of the overbought condition after the Echo high, and a doji inside day as the market preps for its next move. Doji's and inside days mean hesitation in both directions, a move beyond the inside day would often indicate a continuation in that direction.

A relatively High Arms reading helping to release the pressure. A reading at this level is more bearish than necessary and is supportative of the bullish case.

Of course it is entirely possible that the market needs to explore the downside, and we should expect the usual expiration re-positioning. Lots of out of the money options above and below the market to 'hold' the market in this neighbourhood prior to the shortened holiday week coming next.

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Steve Rushton November 17, 2016No Comments

S&P500 daily update

Tolerance

"Laws alone can not secure freedom of expression; in order that every man present his views without penalty there must be spirit of tolerance in the entire population." – Albert Einstein

Market continues to look very strong, T volume oscillator at 72, Osc very strong, above all of the important averages and holding the steep angle on a par with the Brexit rally. I have indicated a tentative price target of 2225-2245 for this move, which is a fibonacci projection from the thrust.

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Steve Rushton November 16, 2016No Comments

S&P500 daily update

re-cycling

reduce, re-use and re-cycle

The market starting to coil in anticipation of the next move, presumably into November expiration on Friday.

Just getting through the short-term echo high but holding above all of the averages.

A quick drop down to the 55 ema at 2143 would make sense here, but not guarranteed – just enough to get everyone positioned bearishly prior to expiration. Significant open interest at 2150 could be a magnet and if things get ugly a larger magnet at 2120.

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Steve Rushton November 15, 2016No Comments

S&P500 daily update

Supermoon

Technically a ‘perigee full moon’, the phenomenon occurs when a full moon coincides with the moon being the closest it gets to the Earth on its orbit – and 13-14 November 2016 full moon will be the biggest and brightest in 60 years.

So far the market is holding up and working off its overbought character, with a nice push back up into the weekend.

And looking for an Echo high to occur monday or tuesday.
After that, its possible we need to challenge the 55 ema in a more decisive way.

I have re-drawn the new T structure back one day centre-ing on the oscillator low (0) which was 2 days prior to the price low, and this would explain the sharp selloff from 2182 on thursday.

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Steve Rushton November 12, 2016No Comments

S&P500 daily update

Veterans

“Never give in — never, never, never, never, in nothing great or small, large or petty, never give in except to convictions of honor and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy.” – Winston Churchill

Something for everyone yesterday.

It would seem that above the upper bollinger was too much for the market and it quickly sold off from the very short term target of 2180 at the rising Gann line – previous support / now resistance.

Still room for the market to move higher

I have moved the new T structure back one day as the oscillator low was 2 days prior to the price low and this projects the first major target for monday coincidentally just prior to a scheduled Echo peak high. A similar situation occurred after Brexit when the market tested the averages briefly and then resolved to the upside.

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Steve Rushton November 11, 2016No Comments

S&P500 daily update

Yes Sir, please Sir!

The market makes a very significant move up as a huge amount of out of the money puts are urgently cashed in, showing that in contrast to the Brexit vote the Trump challenge was well hedged by the major players.

It also shows that the uncertainty of the Election was what was holding the market back. It is after all, a BULL market and will continue to be so until further notice.

A new and very powerful looking T structure emerges with the major projection for the next major peaks from at least the 9 September collapse, and possibly the all time high.

Risk On.

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Steve Rushton November 10, 2016No 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

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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