Live: Wednesday, Feb. 14, 2018

2/14 – 3:20 p.m. New York time

I entered no new positions and exited none. In my agenda discussion, below, I mentioned the 3-hour Fisher Transform on the S&P 500 had signaled a return to a downtrend. That reversed after six hours, and the daily and 3-hour Fisher Transform metrics are now in synch as uptrending, in what I consider to be a correction to the larger downtrend.

2/14 – 10:30 a.m. New York time

The broad market continues its countertrend correction to the upside at the level that I track (Minuette under the Elliott wave classifications) for directional trades. That leaves me with no prospective trades for the day.

The Fisher Transform (FT) on the daily chart, the level of granularity I track, remains uptrending, although the 3-hour FT is signaling a downtrend. Trends persist for a week or two on the daily FT, and a day or two on the 3-hour FT.

By Elliot wave analysis, the correction is still in an early stage of its progression. It will have rises and falls that may even be sufficient to trigger a Fisher Transform trend change. I shall make my trading decisions on the Fisher, of course, but also on the Elliott wave reading.

More succinctly: My goal is to trade waves of the Minuette level in the direction of the trend of the Minute level, which is one level higher.

By Tim Bovee, Portland, Oregon, Feb. 14, 2018


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.

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