Live: Thursday, April 19, 2018

4/19 – 3:20 p.m. New York time

The SPY metrics are largely unchanged from the market open, and I have placed no trades today, neither entering nor exiting positions.

4/19 – 10:45 a.m. New York time

The S&P 500 declined in early trading this morning, and more notably, the daily chart Fisher Transform signaled a downtrend for the first time since April 3. Volume continued to fall through Wednesday’s trading, and the advance-decline ratio continued to decline for a second consecutive day.

All of which indicate a waning enthusiasm for the blue chips, which is a good sign for my bear positions in SPY, the fund that tracks the index. The entry analyses are here and here,

In Elliott wave terms, the decline can be interpreted as the beginning of a 4th wave correction of within the Micro-level C wave that began April 6. But it could also be seen as a continuation of the 3rd wave within C. Time will tell.

By Tim Bovee, Portland, Oregon, April 19, 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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