Live: Friday, May 18, 2018

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.

I see no need for action on my present positions, SPY options (here and here) and shares in the inverse S&P 500 fund SPXU. I have no new positions planned for today.

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.

Creative Commons License

All content on Tim Bovee, Private Trader by Timothy K. Bovee is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Based on a work at