10:55 a.m. New York time
I’ve posted three entry analysis of my short bear call spreads on SPY. They are:
I anticipate no further trades today.
10:20 a.m. New York time
The market downtrend continues. In Elliott wave terms, I see as a it as a wave 2 correction of the Minute degree to the upside within wave 3 of the Minor degree to the downside, with wave 3 of the Intermediate degree, also to the downside.
I have re-established my SPY short bear call spread positions, divided into three lots, after taking profits on Friday when they exceeded half of their maximum potential profit. I shall post the analyses shortly.
By Tim Bovee, Portland, Oregon, March 23, 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.
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