Live: Thursday, May 24, 2018

3 p.m. New York time

I placed no trades today.

10:10 a.m. New York time

I anticipate no trades today. The Elliott wave count for SPY remains unchanged, as a 1st wav to the downside continues. The Fisher Transform on both the daily and monthly charts remains downtrending.

My SPY options (here and here) and shares in the inverse S&P 500 fund SPXU require no action at this point.

By Tim Bovee, Portland, Oregon, May 24, 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.