9:55 a.m. New York time
SPY is trading within yesterday’s range so far this morning and requires no action.
ARKG has set a lower low for two days in a a row for the first time since June 4, and the daily chart Fisher Transform has switched to downtrending. It has been uptrending since June 13. The weekly chart Fisher remains uptrending, as it has been since mid-May. The weekly is my chosen signal to consider exiting to avoid a downtrend.
Neither symbol demands a change in my Elliott wave count, so I see no reason to take action on either today.
On Saturday, look for The Week Ahead — my discussion of what to expect in economic reporting.
By Tim Bovee, Portland, Oregon, June 22, 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.