S&P500 intraday update - Trading the Line

ST Sell Signal at 2380

Today's failure to bounce at 2380 triggers a short-term SELL signal, confirmed by the move lower through 2375.

Steve Rushton May 17, 2017No Comments

Cover Signal below SPX 2392

Pre-market:

Heavy selling overnight will place the market below the cover signal level and within easy reach of the ST Sell Signal level.

Yes, a short-term bounce may occur especially at 2380 – the site of recent bounces – but the fact that this is occuring during the endgame of the red T structure is strongly suggesting that we take a short signal, if it occurs, seriously.

Steve Rushton May 17, 2017No Comments

S&P500 intraday update S&P500 signal

Cover Signal at 2390

Pre-market:

Overnight markets have not held onto yesterday's gains and are possibly looking to test the previous 2 days' lows in early trade.

This could be a critical test because we are starting to see a challenge of the important rising line from the 13 April low at the same time as the expiry of the major arm of the red amalgamation T structure, as well as the possibility of failure at a double top.

Failure here would lead me to assume that the the red amalgamation T structure – a double bottom structure – is more dominant than the later T structure from the most recent low, and this could present significant difficulties moving forward, especially at the point where strength is required to break out above 2400.

If that becomes the case it may also be necessary to re-draw the later T structure as it could be projecting echo lows rather than highs.

—

Recovery today if it occurs will change that outlook

Steve Rushton May 11, 2017No Comments

S&P500 intraday update S&P500 signal

S/T BUY Signal above 2348

A nice strong push upwards off the support line at 2341 finds the market playing at the upper level again and IF the market holds onto the gains, we have a Buy Signal above 2348.

As with yesterday, if this is sold into it and the market is going to continue its choppy range-bound behaviour then a visit back down to the recent support levels may be in order.

Steve Rushton April 20, 2017No Comments

S&P500 intraday update S&P500 signal

S/T Buy Signal at 2354

Market pushing away at the averages and above 2354 and assuming that it can hold onto this level we are back on a Buy Signal.

Keep an eye out for hints of a reversal and hedge your risk accordingly.

Steve Rushton March 28, 2017No Comments

S&P500 intraday update S&P500 signal

Gap up into Buy Signal

Futures indicating a Gap up into the descending resistance and Buy Signal area, suggesting that the possible small T mentioned is good for a move back up towards the all-time highs.

Of course failure at the descending resistance, about 2372 would bring that back into doubt.

Steve Rushton March 10, 2017No Comments

S&P500 intraday update S&P500 signal

Cover Signal at 2372

Market drops below the Buy Signal level and fails to recover by end of day.
We wait for the next signal.

Steve Rushton March 7, 2017No Comments

S&P500 intraday update

Cover Signal?

With this morning's weakness, a Cover Signal is being activated and this will be confirmed at the close, unless of course the market rallies back above.

And so, it seems, we remain on a Buy Signal.

Steve Rushton March 6, 2017No Comments

S&P500 intraday update

Somewhere

"Would you tell me, please, which way I ought to go from here?'
'That depends a good deal on where you want to get to,' said the Cat.
'I don't much care where -' said Alice.
'Then it doesn't matter which way you go,' said the Cat.
'- so long as I get SOMEWHERE,' Alice added as an explanation.
'Oh, you're sure to do that,' said the Cat, 'if you only walk long enough."

– Lewis Carroll, Alice in Wonderland, 1865

Yesterday's move certainly fits in with an ending of the Large Gray T structure and the Echo high, as the light selling in the morning just kept going all day.

Unfortunately, this also questions the validity of the extended arms of Cluster T structures as the T volume oscillator drops back below zero. The Buy Signal is still active due to the high level of price relative to the signal levels, but cautious.

A visit to the gap seems likely, and how we negociate that will be quite revealing…

Be prepared: To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the 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 which explain how this system works.

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 March 3, 2017No Comments

S&P500 intraday update

Target acheived, but what’s next?

What a different day? Looks like a lot of players positioned short and got badly burnt.

With the market bubbling about at 2400, we have reached yet another interesting numerical target.

Very close to my upper gray channel and also at the upper Extreme level which suggests that further gains might be limited. And with an Echo high scheduled for tomorrow we might see some profit-taking.

Is this the final thrust of the Large gray T structure, or is this confirming the possibility of further strength into late March as projected by the Cluster T structures?

Steve Rushton March 1, 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

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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“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.”
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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.
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.
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The parking lot at the Mall of Fears.
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The mind is neither either nor or.
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