Trading the Line

Fall

The end of the summer and the first day of Fall - we shall see what delights it brings us all.

August comes to a close with a decisive move up above the declining resistance line and above the Mid-channel as the market heads back towards the all time highs.
Market in festive mood with the long weekend to look forward to.

An Echo high is scheduled for Tuesday.

Be prepared for whatever comes next:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line 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 for all of the concepts discussed.

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.

 

Solidarity

Market plays catch up quick and heads for the declining resistance line.
An S/T Buy Signal at 2450.
Oscillators improve but still at an inflection point.
Strength above here opens up the possibility of further price discovery.

Be prepared for whatever comes next:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line 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 for all of the concepts discussed.

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.

 

S/T Buy Signal above 2450

Market pushing towards the Buy Signal level of 2450 in early trade after what seems to be a successful re-test of the 55 ema from above.

If the market can hold up and close above 2450 this would be S/T Buy Signal.
We also have the possibility of a short-term peak here as projected by the small T.

 

Discovery

Overnight / over-reaction to the missile event risk gives the market a welcome boost.
Back above that important 55 ema again, and close to a Buy Signal, but as we can see, the market has backed off from the Mid-channel recently and needs to push upwards through it if it is to make any progress.
Technically an improvement but the oscillators are still in neutral suggest the possibility of more chop ahead.

Be prepared for whatever comes next:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line 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 for all of the concepts discussed.

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.

 

No missile crisis yet

Nothing much but buying this morning after the overnight 'missile crisis' and so a nice strong thrust upwards from 2428.

It seems that we are still buying the dips and selling the rips.

Continue to watch the action at the important averages for evidence of a sustained move higher.

First Lightning

Market closed yesterday still in Neutral / slightly Bearish Mode waiting for direction.
No strength to follow through on overnight gains, but holding onto the important 55 ema for now.

The momentum oscillator looks to be making a Buy Signal.
The T volume oscillator back just below zero - failure here is a Sell Signal.

---

On the anniversary of the soviets first atomic bomb test - First Lightning - the North Koreans fire a missile over Japanese air space. Futures are subsequently trading below the Sell Signal line but bounced from initial lows in the region of 2420. Early morning reaction and political rhetoric will likely set the stage for the day.

Be prepared for whatever comes next:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line 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 for all of the concepts discussed.

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.

 

Acceptance

Sam - Whenever there is any doubt, there is no doubt. That's the first thing they teach you.
Vincent - Who taught you?
Sam - I don't remember. That's the second thing they teach you.
[...]
Vincent - No questions. No answers. That's the business we're in. You just accept it and move on. Maybe that's lesson number three.

Ronin, 1998 Dir. John Frankenheimer

---

Another attempt at a Buy Signal meets resistance at the previous high of 2454, continuing the theme of declining resistance.

The T volume oscillator climbs higher and turns positive and the OSC momentum oscillator looks near to a Buy signal.

Market still in a Neutral - Slightly Bearish mode and waiting for a catalyst for direction - this could mean the market is rolling over or could just be the squeeze before the next advance - we shall see.

Be prepared for whatever comes next:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line 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 for all of the concepts discussed.

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.

 

 

Libération

No follow through. Cover signal triggered at 2440, but not quite a sell signal.

Be prepared for whatever comes next:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line 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 for all of the concepts discussed.

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.

 

Bagradas

No follow through, yet. A re-test of the 55 ema and still on a Buy Signal, just.

The Warning phase moves up to a Short Alert, but curiously the T volume oscillator continues higher - some strength behind the new small T? Maybe.

Still looking for an attempt on the declining resistance, but another break lower remains a distinct possibility.
Be prepared and Hedge accordingly.

Be prepared for whatever comes next:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line 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 for all of the concepts discussed.

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.

 

Vulcanalia

“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.”

Charles Bukowski, Factotum, 1975

A strong upward thrust through the important 55 ema and a gap up and go day which closed near the high of the day.

A strong Buy Signal and the forming of a new small T structure which IF the low holds projects strength into late August and also into September.

Be prepared for whatever comes next:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line 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 for all of the concepts discussed.

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.