S&P500 daily update - Trading the Line

S&P500 daily update S&P500 signal

Cover at 1932

Reversal back below the 55ema and at the ellipse suggesting that the 'bounce' is now in.

Note re-drawn T structure with cluster centre at February 14 seems to be fitting more accurately.

Steve Rushton March 1, 2016No Comments

S&P500 daily update

Peaking ?

A small reversal in line with time and price, and a touch of the top grey channel.

Maybe, just maybe, we initiate another pullback to the 1840s. Or we do pause and grind towards 2000.

Steve Rushton February 27, 2016No Comments

S&P500 daily update

Are we there yet, again

Interesting, strength above the 55 is a very good sign.

But the ellipse tool is suggesting that the bounce of the whole move from new year is now done.
This means that if we don't crack here then the trend has changed.

Steve Rushton February 26, 2016No Comments

S&P500 daily update

Saved by the black stuff, again

We didn't stay below 1893 long enough to be convinced on a short position, and strength back above 1910 is bullish.

Looks like another attempt at the 55 ema, and maybe then a re-test of the 1850 area.
Looks a lot like February 3.

Steve Rushton February 25, 2016No Comments

S&P500 daily update

Close to a cover signal, but watch out for support in the 1910 area if we are just going to turn back up again.
Curious to see if we do get through the strong resistance -1940-50 because if we do then we target 2025.

Steve Rushton February 24, 2016No Comments

S&P500 daily update

Target acheived ?

Price still very bullish, but looking like short term resistance about to be tackled at 1950.

The Mob, ellipse and 70 day pulse are all looking for a top in the next few days suggesting that 'if' this is just a bear market rally then this is where the turn will come.

Steve Rushton February 22, 2016No Comments

S&P500 daily update

In the crosshairs

First test of the rising support line successful but without any follow through.
Unconvinced either way.

Steve Rushton February 20, 2016No Comments

S&P500 daily update

February expiration

Expect usual shenanigans around option expiration. A pull back to 1900 or even a pop to 1950 make sense.

I'm expecting to see some major resistance around the 1940 area, if we get there. (pale blue descending diagonal).
If we can get through there then maybe we can rally up to 2000.

Steve Rushton February 19, 2016No Comments

S&P500 daily update

Are we there yet

Bounce target acheived yesterday, so we could certainly start to see some profit taking.
But secondary target now looking like 1925-1955.

Strength above the support/resistance line is suggestive of further strength. Watch to see if we crack here or next few days (as many seem to expect) or if we can stabilise above the mid channel and power higher.

OSC now on a Buy signal.

Steve Rushton February 18, 2016No Comments

S&P500 daily update

Bounce into expiration

Short term target for this bounce is between 1880 – 1920.
However we did close above the support/resistance line.
First arm of split T structure, and first T structure is Friday.

Do we get a drive upwards into expiration and then a reversal or a sell off?
Magnets at 1950, 1900, 1850, 1800

Steve Rushton February 17, 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)

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

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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.”
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The mind is the spirit’s tear.
The mind is our prior and subsequent ghost.
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