Live: Wednesday, June 6, 2018

3 p.m. New York time

No trades today.

10:40 a.m. New York time

SPY opened a bit higher this morning compared to the prior day’s range, and then began declining. At this point there has been no change in the  Elliott wave analysis or the Fisher Transform signals. The price continues to work its way through the 3rd wave up at the Micro degree, and the Fisher remains mixed, signaling an uptrend on the daily chart and a downtrend on the monthly.

Unless either of those analyses changes, I plan no trades today.

I have updated the entry analyses for my two SPY positions (here and here) to include risk and reward as dollars per contract, in line with yesterday’s discussion of calculating share equivalent returns.. Those numbers are also used in calculating the risk/reward ratio.

By Tim Bovee, Portland, Oregon, June 6, 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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