The Wyckoff Wave Neutral, So Let’s Look For Further Pullback.

The Wyckoff Wave finished the week lower as called for on average volume.

We was looking for a short term pullback which we got.  With the Technometer still neutral, we will look for further pullback in the coming week.  

The Technometer is neutral at 45.6.  

The Wave/OP  are moving in unison to the downside. 

WWN – The Wyckoff Wave New Index also closed lower as well on average volume. 

Here as well we was looking for lower, and got it.   Let’s look for some more downside price action.  

Currently the Technometer is neutral at 44.9. 

The Wyckoff Wave Growth Index closed slightly higher last week, on average volume.  

The Growth Index outperformed to the upside last week, which is good for growth stocks.   Let’s look for slight pullback and hopefully a buy signal soon.   

Currently the Techometer is neutral at 46.2.  

The SPY was down slightly for the week, on average volume.

We was looking for a pullback here last week as well, but we had warned on Youtube that our SPY Technometer was getting to oversold fast which did occur Friday morning.   We still think this market could pullback next week with everything else, and give us an opportunity to buy some stocks.

The Technometer is oversold at 38.9.

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The bond market was down for the week as expected, on average volume.

We think bonds as well could work lower in the coming week.   

The Technometer is near overbought at 48.5.

The Wyckoff Wave Metal Index was flat for the week, on average low volume.

Our Technometer is neutral, and we still expect some type of correction of the recent advance. 

The Technometer is neutral at 44.0.

The long dollar ETF, UUP was also flat for last week’s trading, on extremely low volume.

We have been looking for a low down in this area recently, which we have not gotten as of yet.   The Technometer is oversold so we expect a bounce. 

The Technometer is oversold with a reading of 38.8.

Bitcoin was once again sharply higher for the week on reduced volume.

We was looking for Bitcoin rally to slow, so we did sell our long position from $18,300 at $22,650 on yesterdays session.

We are looking for some weakness this week, and hopefully an oversold Technometer once again to let us know it is safe to reenter long positions.          

Our Technometer for Bitcoin is near neutral/overbought at 47.9. 

We sold our long ETH position at $1,542, and also a second position we had on for our Discord members at $1,657.

Here as well we are looking for a pullback as shown by the chart.

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IMPORTANT ANNOUNCEMENTS: 

We launched our WyckoffSMIChina.com site late March, for our China community.  Check it out!

We now have a lower cost version of our Unleashed Course, which is an excellent value at $349.99.  

Click Here Our new “Pulse of The Market” charting software for Cryptocurrrencies is now showing consolidated volume from over 140+ exchanges.  This is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites, and will be launching for subscription in near future. 

We have an active Discord channel where we discuss the Crypto markets.  We have had huge success and if you trade Bitcoin you might like monthly access at $40 a month. Join Here

Due to the demand for Bitcoin/Cryptocurrency information and trading knowledge, we released a Cryptocurrency and Wyckoff Trading Course at our site, LearnCrypto.io   This course is being offered at an affordable $299.99.  We have had 1029 students enroll since its launch on June 22, 2017.    On June 28th, 2018 we added lessons detailing the OP, Force, and Technometer and how to use these Wyckoff Tools for analysis.

If you are interested in Wyckoff stock chart analysis as well as Cryptocurrency, search “Learn Crypto / Wyckoff SMI” or click this link https://www.youtube.com/channel/UCDxK2PwEDvoaHZgjPV_WgcA Please subscribe and click the bell to be notified of our upcoming broadcasts.

If you would also like to follow us on twitter for news and trade ideas, follow “WyckoffonStocks“, “LearnCryptoShow“, or “WyckoffonCrypto“.   We have given numerous profitable trades to our subscribers on the Youtube channel, as well as Twitter.  

Good Trading,

Todd Butterfield