Live: Friday, May 4, 2018

5/4 – 3:50 p.m. New York time

The Fisher Transform on the SPY 10-minute chart remains downtrending, although the daily chart is uptrending. Without unanimity, I won’t exit the SPXL shares position now, but shall wait until Monday to evaluate my next action. No trades today.

5/4 – 3:20 p.m. New York time

The Fisher Transform on SPY, which tracks the S&P 500, has moved to uptrending on the daily chart, and yet is downtrending on the 10-minute chart. I unanimity between the two levels before acting.

If the 10-day bar movs to uptrending, then I shall exit my shares position on SPXU, a leveraged inverse ETF tracking the S&P 500 and replace it with SPXL, a non-inverse leveraged S&P 500 fund. Otherwise I shall retain my SPXU position.

5/4 – 11:45 a.m. New York time

SPY remains in downtrend mode on the Fisher Transform, and there has been no change in the Elliott wave analysis posted on Thursday.

By Tim Bovee, Portland, Oregon, May 4, 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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