Live: Friday, July 27, 2018

11:35 a.m. New York time

SPY continues to come down from its high of July 25. In the terminology of Elliott wave analysis,

I place the present movement as a 4th wave correction of the Micro degree {-2}, which will be followed by a final push upward, completing the C wave of  the Minuette degree that has been underway since July 3.

The next move after that completion will be a significant decline at the Minuette degree, and possibly at the Minute {+}, one degree higher.

I shall post The Week Ahead on Saturday.

By Tim Bovee, Portland, Oregon, July 27, 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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