3:15 p.m. New York time

I entered no positions and exited none.

The Fisher Transform on the daily hart moved to uptrending as the closing bell approached. However, as of this posting the trend was unconfirmed by the 10-minute chart Fisher, which is signaling a downtrend.

The signals would affect my shares trade on SPXU, and I shall wait and see if the signals will align before taking any action.

The uptrend signal is unsupported by the Elliott wave count. Below, a 10-day chart with 10-minute bars showing my Elliot wave analysis of the 3rd wave of the Minute degree, which began on May 14.

10:35 a.m. New York time

SPY has traded largely within yesterday’s range so far this morning. I have no trades in sight.

By Tim Bovee, Portland, Oregon, May 16, 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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Based on a work at www.timbovee.com.