2:35 p.m. New York time

I have entered a shares position on ARKG.

11:30 a.m. New York time

The rising 3rd wave of the Submicro degree (3 {-3}) on the SPY chart has ended, peaking on June 13 at $279.48. The reversal happened with an opening gap, and such gaps generally are a shout-out that a significant reversal has begun.

Further underlining the significance of the reversal, the Fisher Transform

The Elliotchart covers 90 days with 30-minute bars.

Elliott wave analysis shows that the next step will be a 4th wave to the downside, and then a final push upward that will complete the C wave of the 4th wave upward correction up to the Subminuette degree (4 {-1+}), and indeed will mark the end of the 4th wave correction at the Minuette degree (4) that began on April 2.

Once that Subminuette 5th wave (5 {-3}) is complete, then I shall re-establish my bear options positions on SPY.

By Tim Bovee, Portland, Oregon, June 15, 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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