Let's see how this 5 minutes chart plays out. Looks like we had 5 waves down on the QQQ chart and now an a-b-c rally if you don't mind a little Elliott Wave Theory. We are overbought on our Wyckoff Technometer and I was looking for lower. You can see the OP went to new highs as the QQQ was rolling over. This should also keep Bitcoin a little weaker in the days ahead if it works out as planned.

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Click Here For Wyckoff Wave Chart 06-27-11 Our last post ended with the Wyckoff Wave at point Y. The Wave was in an overbought position…

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Click Here For Wyckoff Wave Chart 06-08-11 Let’s pick up our study of the Wyckoff Wave at point M. Click here to view and download…

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The Wyckoff Wave finished the week lower once again , on low volume. We was wanting a slight correction to get our Technometer closer to…

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The Wyckoff Wave traded lower for the week as expected, on low volume. We did upthrust resistance as I mentioned, and came off nicely. Volume…

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The Wyckoff Wave closed the week down sharply, on low volume. For the last week and a half, the Wave had met resistance at its…