Live: Saturday, March 14, 2020

5:20 p.m. New York time

As I read the chart we are now in an upward movement that corrects a portion of the decline from March 3. Some likely end points of the correction on the SPY chart, using Fibonacci numbers, are $288 (62% retracement), $280 (50%), and $273 (38%).

In Elliott wave terminology the correction would most likely take the form of a zig-zag: up-down-up more.

My bear holdings all expire April 17, so based on the chart analysis, I shall hold what I have and wait a bit before entering new positions.

I have finished updating the analyses for short iron condor options spreads with results. They all expire next Friday. The symbols, with links, are XLB, XLE, XLI, XLP and XLV.

By Tim Bovee, Portland, Oregon, March 14, 2020


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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