Trading the Line

Caution required

It does look like we are heading back to new highs for a re-test of 1883, perhaps the upper trend line (5) and target for March 27 (small MOB)

Diagonal resistance line 4. appears to be taken out

Keep an eye on line 1. which we broke thru and then recovered. A second break of this line should signal a move down to line 2.

The oscillator makes a late sell signal, suggesting weakness in this recent move and this needs to be resolved either way.

Steve Rushton March 19, 2014No Comments

S&P500 intraday update S&P500 signal

S&P500 intraday LONG Signal at 1866

With the move above 1866 a Buy signal is occurring. Be prepared for a whipsaw back to the short side in the next few days. Stop and reverse position below 1851.5. The oscillator is starting to give a sell warning signal indicating weakness – I will hold the earlier L/T short position from March 12 as a hedge.

Cancelling the S/T Sell signal registers a loss of 24 points

Steve Rushton March 18, 2014No Comments

S&P500 daily update

tiptoeing on the line

Yesterday just looking like an oversold bounce unless we see stronger action today and tomorrow.

Mixed signals with the potential Buy signal above 1861 and the oscillator signalling potential weakness ahead.

Steve Rushton March 18, 2014No Comments

S&P500 intraday update

1859

Flatlining most of the day around 1859 – admittedly close to today's 1860 Buy signal level – but really needs to see a strong close 1862+ to commit to the Buy signal.

1. The oscillator will most likely make a sell signal tomorrow
2. Diagonal resistance at 1872 today, 1870 tomorrow needs to be cleared

Mixed signals, understandable given the perceived risk to global markets.

Steve Rushton March 17, 2014No Comments

S&P500 daily update

Falling Knives

Bounce on friday failed albeit only slightly, confirming the sell signal.

Watch the action at the 55 day ema now at 1828 as this can be a key pivot level.

A close above 1860 on monday would cancel the Sell Signal.

Steve Rushton March 15, 2014No Comments

S&P500 daily update

Beware the Ides of March

A strong sell signal yesterday creating quite a negative picture. I had expected a few more days of congestion in the 1870-1880 area, so my pre-market call yesterday after the recovery on wednesday was way off.

Unless we see a rapid recovery from here – a move above 1867 is a Buy signal – then we are now set up for a move down to 1810 or even 1775 towards the end of March as indicated by the MOB.

Tomorrow is the Ides of March – watch out for falling knives.

Steve Rushton March 14, 2014No Comments

S&P500 intraday update S&P500 signal

S&P500 Short Signal at 1842

A little late in the day and will quite probably bounce tomorrow but we hit a SHORT ONLY SIGNAL with the penetration below 1843. A move back above 1867 tomorrow will reverse the signal.

Steve Rushton March 13, 2014No Comments

S&P500 intraday update

Nearly a short signal at 1846

Very close to an intraday Sell signal with the move down to 1845. Watch for a bounce from line 1. Otherwise a short only signal if penetrates 1843, and if we don't recover above 1848 by the close.

Steve Rushton March 13, 2014No Comments

S&P500 daily update

10 point spike down

An interesting probe down and found support in the vicinity of line 2. Potentially a bullish signal.

Stuck between 1855 and 1882 and may need some time to resolve direction.

Changing position to LONG and SHORT at the open unless futures indicate a drop of more than 10 points (currently +3).

Steve Rushton March 13, 2014No Comments

S&P500 daily update S&P500 signal

Warning signal

Warning signal after a 3rd attempt (and potentially a failure) at 1882, a pullback to 1850-55 now seems likely. If that happens we should get some clarification. Need to see a recovery of at least 1875 to re-consider.

Interesting days ahead.

Steve Rushton March 12, 2014No 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

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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.
The mind is the sum of all and more.
The spasm between one and zero in the Calendar of Black-Hole Years.
The contract between the lash and the whipping post.
A quilt of dreams stitched with facts.
A meaningless argument among whores.
Rain that keeps falling when the sky clears.
A masquerade party, guest and host.
A candlelit landscape of puddled wax.
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

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