3:20 p.m. New York time
I placed no trades today.
10:45 a.m. New York time
The Fisher Transform on the SPY daily chart has returned to downtrending, validating the more complex signal handling I discussed in the May 17 Live post. The Elliott wave count, the daily Fisher and the monthly Fisher are all three aligned in signaling a downtrend.
Today’s early trading marked a new low in the decline from May 17, which I count as a 3rd wave down of the Subminuette degree.
By Tim Bovee, Portland, Oregon, May 18, 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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