9/11 – 3:25 p.m. New York time
I made one trade today, entering a position on SPY based on Elliott wave theory. This week there are no earnings plays that qualify for further analysis, so I am looking elsewhere for trades.
It has been awhile since I have traded based on Elliott wave theory, although I use it all the time in deciding when I should exit. Elliott wave analysis tracks patterns in price movements. Here are some places to go for more information:
- StockCharts has a good explainer.
- The principal practioner of Elliott wave analysis is Robert Prechter at Elliott Wave International, which has much information freely available.
- His book, Elliott Wave Principle, is a must-read for people interested in this form of analysis.
- So is his company’s valuable pragmatic publication, Visual Guide to Elliott Wave Trading.
- For any interested in the theoretical side of Elliott wave as applied to finance, Prechter’s The Socionomic Theory of Finance is the book to read.
9/11 – 2:10 p.m. New York time
SPY has moved in a way that allows a trade based on Elliott wave theory. My analysis will be posted shortly.
9/10 – 11:45 a.m. New York time
I have no prospects in view for action on Monday.
By Tim Bovee, Portland, Oregon, Sept. 10-11, 2017
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.
All content on Tim Bovee, Private Trader by Timothy K. Bovee is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Based on a work at www.timbovee.com.