Live: Tuesday, May 8, 2018

5/8 – 3:10 p.m. New York time

My next anticipated trade is to re-enter a shares position on SPXU, the inverse S&P 500 fund, when the Fisher Transform signals a downtrend on the daily chart. It remains in uptrend mode, so no trades today.

5/8 – 10:30 a.m. New York time

I continue to operate on two bearish tracks.

The first, managing options plays on SPY, relies on Elliott wave analysis for entry/exit signals with the Fisher transform serving as a granular signal for when to make the trade. The positions expire in mid-June. The Elliott wave analysis is ambiguous but suggests a sideways correction within a larger downtrend.

The second, re-entry into a shares trade on the inverse S&P 500 fund SPXU, relies primarily on the Fisher transform for entry/exit signals within a major trend identified by Elliott wave analysis. The Fisher is presently showing an uptrend signal, so I am out of the shares position.

By Tim Bovee, Portland, Oregon, May 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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