Live: Friday, June 8, 2018

3:15 p.m. New York time

Given the fact that SPY remains below the peak of the rise from May 29, I’ve decided to wait until Monday to roll out of my options positions on SPY in hopes of a further decline. As long as SPY remains below $278.28 — the Aug. 7 high — that level can be interpreted, using Elliott wave analysis, as the peak of wave 3 to the upside at the Submicro level {-3}.

10:10 a.m. New York time

SPY has opened the morning lower while remaining within yesterday’s range. I anticipate no trades today.

By Tim Bovee, Portland, Oregon, June 8, 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.

License
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 www.timbovee.com.

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