S&P500 intraday update - Trading the Line

S/T SELL Signal at 2423

Market opened close to the Sell Signal line and dropped quickly to 2413 for a strong bounce back to 2420.

2413 looks like strong support for now but if the selling resumes and 2413 fails then I think we will see 2406 again, perhaps lower.

Steve Rushton July 6, 2017No Comments

S&P500 intraday update S&P500 signal

ST SELL Signal at 2428

Market came down to the BUY / SELL signal level of 2428.

No bounce here, so the signal is short again.

–

Market dropped into a hole at 2406 – and bounced nicely with plenty of support there.

It looks like the selling stopped there and it seems like we are back on the way up (for now).

Market held onto most of its gains from the bounce, but didn't close back above the Sell Signal line.

–

Expect more highly volatile days ahead, be prepared for anything and hedge risk accordingly.

Steve Rushton June 29, 2017No Comments

S&P500 intraday update S&P500 signal

ST Buy Signal at 2437

A solid gap up and go day, and holding up above the Buy Signal level into the close.

Steve Rushton June 28, 2017No Comments

S&P500 intraday update S&P500 signal

Cover at 2431 and Sell Signal at 2428

Price has dropped considerably since midday.

Cover signal at 2431

S/T Sell Signal activated at 2428.

Steve Rushton June 27, 2017No Comments

S&P500 intraday update S&P500 signal

Continuation Buy Signal

Market opened well below the cover signal line, but tested the overnight low and then never looked back.

The Bull is still showing its muscles with a 12 point rally off the lows and closed back above the Buy signal line.

A continuation S/T Buy Signal from 2429.

The caveat is that with both the T volume and Osc oscillators turning negative that the follow through may be limited.

Steve Rushton June 15, 2017No Comments

S&P500 intraday update

Cover Signal pre-market, maybe

No follow through on Friday afternoon's recovery in the Futures market which are currently trading below the Buy / Cover Signal level and so it seems that the late afternoon rally on Friday was simply short covering into the Friday expiration, and that the damage done (especially to the technology sector) was real.

Ultimately we are now looking for evidence of a new T structure that will provide a projection for the next advance, and so in the meantime we should approach the market with caution.

—

Although selling off in the morning, the Market held up above the cover signal level into the close and the current Buy Signal is therefore still active for now. Risk remains high.

Steve Rushton June 12, 2017No Comments

S&P500 intraday update

New Highs and a reversal

Looks like a significant trend change occurred with the market making new highs today and then reversing significantly.

This is what we might have expected to see at the end of a large T structure.

Trade carefully.

Steve Rushton June 9, 2017No Comments

S&P500 intraday update

Altitude sickness

Market suffering from 'altitude sickness' with the early reaction to the overnight strength in the Futures, but holding onto the 2400s and stabilising above the buy signal line (for now).

Steve Rushton May 31, 2017No Comments

S&P500 intraday update S&P500 signal

S/T Buy Signal at 2388

Above the Buy Signal line at the open.
Needs to hold above 2385 into the close to confirm.

Steve Rushton May 22, 2017No Comments

S&P500 intraday update S&P500 signal

S/T Buy Signal above 2384

Strong rally up to the Buy Signal line

S/T Buy Signal above 2384.

Vigilence required.

—

Break back below 2384 cancels out the Buy Signal for now unless we see a rapid recovery into the close.

We will re-assess over the weekend.

Steve Rushton May 19, 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 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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“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.”
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>“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.
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