Live: Tuesday, Aug. 28, 2018

10:15 a.m. New York time

The rise in SPY continues for a third day. My  Elliott wave analysis posted yesterday continues to stand, and I anticipate no trades today.

At this point it’s a waiting game. The next trading opportunity by my analysis will be when the rising trend reverses, setting up an X wave to the downside in the Minor degree {+2}.

By Tim Bovee, Portland, Oregon, Aug. 28, 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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