Trading the Line

Short term peak

2020 (the previous high) triggers another sell off from an overbought situation.
Not quite enough to trigger a cover but further weakness today would do, watch 1995 the 55 ema for support.

Steve Rushton October 14, 2015No Comments

S&P500 daily update

Calmer now

All looking good for a move into a short term peak later this week.

Steve Rushton October 13, 2015No Comments

S&P500 daily update

Catch up

With such a powerful move up last week a pause would make a lot of sense.Will we get a pullback into october expiration, there will be a huge amount of Puts below 2000 to expire…

Steve Rushton October 10, 2015No Comments

S&P500 daily update

As above so below

Market showing good strength on this move, first target 200 MA at 2060.
Measured move of W pattern target 2120

Steve Rushton October 9, 2015No Comments

S&P500 daily update

Above the 55

S&P pokes through the 55ema which is a very encouraging sign and suggestative of a recovery into the congestion area of 2050-2100.

T volume OSC hits another high at 126 confirming the strength of the recent move.

Steve Rushton October 8, 2015No Comments

S&P500 daily update

time for a pullback

The overbought condition and the 55 ema initiate a pullback.
A split T structure also suggests a pullback from here.
Look for support at the mid channel in the 1940s if selling increases.

Steve Rushton October 7, 2015No Comments

S&P500 daily update

Maybe.
We do appear to have broken some of the downward angles suggesting that we could now start grinding back to the all time high.
The T volume OSC is hitting new highs since the October 2014 recovery suggesting that a long cash build up is now available for a long T structure projecting into summer 2016.
Weekly and monthly charts are still signalling a bear market.
Perhaps everyone is just too bearish right now.
Now we are severely overbought (rsi 2 = 97) and just below the 55 ema, and close to the top of the gray channel, and near the end of the fist arm of the small T structure. A pull back here would make sense.

Steve Rushton October 6, 2015No Comments

S&P500 daily update

Recovery

Recovery within first 2 hours of move below 1911 cancelled the potential short signal and the result was strong move up. Small T structure definitely in operation and move above the mid channel is encouraging.

Steve Rushton October 5, 2015No Comments

S&P500 daily update

and on to october

Survived and recovered from a short term sell situation (below 1907), suggesting that the small T structure is still in effect.

Steve Rushton October 2, 2015No Comments

S&P500 daily update S&P500 signal

S/T Buy Signal at close of 1920

Price secured above 1913 into the close generating a S/T Buy Signal, albeit high risk.

I expect further strength into October 5/6.
Failure here would be a strong Sell Signal.

Steve Rushton October 1, 2015No 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 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.”
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 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.
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It’s what the drunk grave robbers couldn’t stuff in their sacks.
The mind is the sum of all and more.
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The mind is what thought is for.
The parking lot at the Mall of Fears.
The fire-pit for the piggy roast.
What the soul surrendered and won’t take back.
The mind is neither either nor or.
The real center of an empty sphere.”
Jim Dodge, Stone Junction, 1990

“The war is not meant to be won, it is meant to be continuous. Hierarchical society is only possible on the basis of poverty and ignorance. This new version is the past and no different past can ever have existed. In principle the war effort is always planned to keep society on the brink of starvation. The war is waged by the ruling group against its own subjects and its object is not the victory over either Eurasia or East Asia, but to keep the very structure of society intact.”
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“There was a student... just the other day... who said that my problem, if one's nature is a problem, rather than just problematic, is that I see things in terms of victory or death, and not just victory but total victory. And it's true: I always have. It's either victory, or don't bother. The only thing worth doing is the impossible. Everything else is gray. You're born... as a man... with the nerves of a soldier, the apprehension of an angel, to lift a phrase, but there is no use for it. Here? Where's the use for it? You're set up to be a philosopher or a king or Shakespeare, and this is all they give you? This? Twenty- odd years of school which is all instruction in how to be ordinary... or they'll fucking kill you, they fucking will, and then it's a career, which is not the same thing as existence... I want unlimited things. I want everything. A real love. A real house. A real thing to do... every day. I'd rather die if I don't get it.”
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