4/9 – 3:25 p.m. New York time
With less than an hour to go before the closing bell, SPY has stayed within the prior trading day’s range. Basically nothing has changed on the chart, and I have taken no action on my positions in the ETF, which tracks the S&P 500.
4/9 – 10:10 a.m. New York time
The S&P 500, which underlies my positions in the exchanged-traded fund SPY (analyses here and here). In Elliott wave terms, the index continues to work through what appears to be a 2nd wave correction to the upside within a downward 3rd wave at the Minuette level, my preferred level for trading.
At this point there’s no need to exit the positions and I have no new positions in sight.
By Tim Bovee, Portland, Oregon, April 9, 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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