4/6 – 3:15 p.m. New York time
The S&P 500 has continued to decline, benefiting my bear positions on exchange-traded fund that tracks the index, SPY (analyses here and here). The percentage of maximum profit on each position stands below 25%; my goal is to exit at 50% or higher.
No exits today, and I have no new positions in sight. Look for The Week Ahead to be posted on Saturday.
4/6 – 10:40 a.m. New York time
My Elliott wave count of the S&P 500 is unchanged from yesterday. I plan no exits from existing positions at this point, nor do I plan to enter any new positions.
I took a look at FXE, which tracks the EUR/USD exchange rate, but have decided not to pursue a trade at this point.
By Tim Bovee, Portland, Oregon, April 6, 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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