Live: Thursday, July 5, 2018

10:25 a.m. New York time

I have revisited the lower degrees of my SPY and ARKG analysis. Neither requires a trade this morning.

SPY has completed its 3rd wave at the Micro level and is now tracing out a counter-trend 4th-wave triangle, all of that within a 3rd wave decline at higher degrees.

The chart covers 20 days with one-hour bars.


ARKG appears to have completed an A wave of the Minuette degree as it begins to work through a 4th wave correction at the Minor degree.

The chart covers one year with daily bars.


The next earnings season begins next week. Since the bear market began on Jan. 26, I’ve stayed away from earnings plays. I plan to revisit the issue this time around. That’s no guarantee that I’ll add such plays into my mix, but I want to see if I can get some sense of predictability that would allow me to profitably add them back into my trading mix.

By Tim Bovee, Portland, Oregon, July 5, 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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