Live: Friday, May 25, 2018

3:20 p.m. New York time

The chart is barely changed from this morning. I placed no trades today.

Look for The Week Ahead on Saturday. The U.S. markets will be closed on Monday, which is also a bank holiday in London. Financial institutions will be open as usual in Tokyo and Sydney.

10:20 a.m. New York time

No trades are likely today. SPY’s Elliott wave count remains consistent with the analysis posted on Wednesday. The Fisher Transform on both the daily and monthly charts continues to be downtrending.

I am carrying three positions, SPY options (here and here) and shares in the inverse S&P 500 fund SPXU, which  did a 4x reverse split on Thursday, May 24. I shall update.the SPXU analysis with a recalculated base shortly.

By Tim Bovee, Portland, Oregon, May 25, 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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