S&P500 signal - Trading the Line

Exodus

A decisive breakdown at the echo high and penultimate arm of the most recent Large T structures suggests that these structures are now complete and we should look for a new low to form a new T structure, as the market retreats from the recent all time high.

Interestingly, this breakdown also violates the long-standing rising support line from the Election low as well as the important 55 ema, suggesting that the whole Trump rally is now complete and that we may need to see some sideways and downwards corrective action, perhaps into the Fall, before the bull resumes its search for higher prices.

Of course an oversold bounce is still quite likely, and several indicators are at readings associated with short term lows.

Watch the T volume oscillator for signs of bullish divergence with price for hints of a recovery in the days or weeks to come.

Be prepared for whatever comes next:

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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 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 August 11, 2017No Comments

S&P500 intraday update S&P500 signal

S/T Sell Signal at 2460

Rapid drop at the open activates a Sell Signal at 2460.

Steve Rushton August 10, 2017No Comments

S&P500 intraday update S&P500 signal

ST BUY Signal at 2437

Pre-market push higher has the market open up above the Buy Signal line.

We do have a descending resistance line at 2439-40 and so it would be good to see the market hold above this area.

Steve Rushton July 12, 2017No Comments

S&P500 intraday update S&P500 signal

Recovery above 2423

Market back on fine form today and re-gaining that important trend line.

If the market can hold onto these gains there is the potential for a small T into late July.

But plenty of descending resistance lines to negotiate first.

Failure of this level again would be another short opportunity.

Steve Rushton July 7, 2017No Comments

S&P500 intraday update S&P500 signal

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 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

“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 active below 7462 st 7440 on 17 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

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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