Trading the Line

S&P500 intraday update S&P500 signal

S/T SELL Signal below 2885

Market at 2865 in early trade – continuation Sell Signal

Heavy selling at the open.
Looks like market is in trouble and breaking below the important 2870 level.

Steve Rushton October 10, 2018No Comments

S&P500 daily update

Triton

Market attempting to stabilise after the strong recent selling, and still below the S/T SELL signal line.

At a critical juncture and although a recovery from here is possible, much further weakness would likely release another strong downward movement.

It is notable that the market is continuing to sell into highs, a characteristic evident since 21 September, and so a close at, or near, the high of the day would indicate a change of mood.

Continue to watch the declining resistance lines for evidence of stabilisation and/or continuation of the selling.

Considering the recent selling the T volume oscillator remains relatively unscathed. It would be much more preferable for the market to stabilise at a lower level in the oscillator. We shall see if there is further downside ahead.

Warnings continue. Market is unstable and dangerous.

Be prepared for whatever is coming next, and trade with confidence:

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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 October 10, 2018No Comments

S&P500 daily update

Erikson

We are all leaders – whether we want to be or not.
There is always someone we are influencing – either leading them to good – or away from good.

Leif Erikson

–

Another wild day… market tries to recover and rolls back over triggering a continuation Sell Signal at 2885 and a 20 point drop into an intraday low at 2662.

Strong buying at the low and a 10 point move up signals cover and the market recovers most of its losses.

An interesting Columbus Day with the bond market closed and a bipolar market.

Dangerous indeed.

Warning: Be prepared, the market is extremely unstable and there is now the possibility of somekind of crash or waterfall decline occurring.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton October 9, 2018No Comments

S&P500 daily update

Discoverer

Okay, Houston, we've had a problem here

Jack Swigert, Apollo 13, 1970

–

After repeated spikes at the 2940 all time high with late day selling the market finally finds the problem and sells hard with the opposite effect of buying the dip towards end of day.

First downside target acheived at the important 2870 level corresponding with the early September lows, and IF the market has found a low we have the possibility of a T under construction that could certainly see a re-bound.

BUT some heavy downward forces are now in place with a series of strong declining angles that will most likely be strong resistance to advances as those participants who did not sell at the recent highs decide to sell into any recovery and ask questions later.

IF the market continues lower, we will look for stabilisation in oscillators and price, and recovery above declining angles prior to the next advance, moving the provisional center of the next large T structure forward until a low is firmly in place.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton October 8, 2018No Comments

S&P500 intraday update S&P500 signal

S/T SELL Signal at 2901

Another Sell Signal at 2901 after a brief look at 2908.

Strong move off the 2869 suggests that the move is complete for the day.

Cover at or prior to the close

Have a great weekend

Steve Rushton October 6, 2018No Comments

S&P500 daily update

Perpetua

Esto Perpetua
(May she live forever)

Paolo Sarpi, 1623

–

Selling initiated at the high on Wednesday continues triggering a cover signal at 2914 and an S/T SELL signal at 2900.

Strong buying at 2885 initiated a recovery to 2900 and in effect cancelling the Sell Signal, for now. The Mid-channel (pale blue band) providing strong initial support.

Two possibilities:

Either, yesterday was a one-day sell off and the market will now resume its grind higher. In which case we should see a close back above the S/T channel. (eg 15 August)

Or, yesterday is the beginning of a period of weakness as the market probes lower and builds a support platform. In which case the S/T channel continues to decline and provides ongoing resistance to advances until a low is in place. (eg 25 June)

Of course we cannot know for sure, and this is why we allow price to show us which scenario is most likely developing.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton October 5, 2018No Comments

S&P500 intraday update S&P500 signal

S/T SELL Signal at 2900

Market gapped down and quickly dropped below 2914 triggering a Cover Signal followed by a Sell Signal at 2900.

The rapid bounce from 2885 back to 2900 cancels the Sell Signal for the time being and covered at 2895 to protect position.

Neutral at the close.

Steve Rushton October 5, 2018No Comments

S&P500 daily update

St Francis

We were called to the forest… when we went down.
A wind blew warm and eloquent
We were searching for the secrets of the universe…
And we rounded up demons and forced them to tell us what it all meant
We tied 'em to trees and broke them down one by one
And on a scrap of paper, they wrote these words…
And as we read them, the sun broke through the trees…
"Dread the passage of Jesus, for he will not return."

Nick Cave & The Dirty Three, Time Jesum Transeuntum Et Non Riverentum, 1996

–

Another look-see at the 2940 high and again the market backs-off with selling accelerating into the close.

A pulse high.

Technically still above the Buy Signal line but the market continues to display declining resistance from the high(s).

Futures are significantly lower this morning and threatening the current Buy Signal.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton October 4, 2018No Comments

S&P500 daily update

Unit

Zooropa… better by design
Zooropa… fly the friendly skies
Through appliance of science
We've got that ring of confidence…

And I have no compass
And I have no map
And I have no reasons
No reasons to get back

U2, Zooropa, 1993

–

Another attempt to move higher is sold into in the afternoon, but the market remains above the Buy signal level and close to all time highs.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton October 3, 2018No Comments

S&P500 daily update S&P500 signal

Twilight

A gap up above the Buy Signal level and head for the recent highs triggers another Buy signal at the open. The market continues to follow the recent script and having taken a look-see at 2937 finds profit-taking again, intensifying in afternoon action.

The market closed just above the Buy Signal line but it seems that we still have significant downward pressure from the recent price high.

Be prepared for whatever is coming next, and trade with confidence:

Steve Rushton October 2, 2018No 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 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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