3/8 – 11:35 a.m. New York time
IWM remains uptrending on the Fisher Transform metric but remains in a counter-trend correction of a downtrend by my, bearish, Elliott wave count.
GLD is declining for the second day. The Fisher continues with an uptrend signal on the daily chart, although it switched to downtrending on the 3-hour chart, which typically leads the daily. The Elliott wave count remains bearish.
Neither position requires action at this point.
By Tim Bovee, Portland, Oregon, March 8, 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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