The Wyckoff Wave Appears To Still Look Lower In The Week Ahead.

The Wyckoff Wave traded only slightly lower for the week, on very low volume.

Our Technometer was oversold to begin last week, so we thought we might try to bounce.  We are now back to neutral, so lets look for a rollover to the downside to begin again this week, after a possible day or two minor rally to upthrust the highs of last week.  

The Technometer is neutral at 43.6.  

 

The Wave made a new low Friday morning, without the OP, which lead to the late rally to end the week. 

 

WWN – The Wyckoff Wave New Index also was slightly lower last week, on average volume.

Here as well, we was looking for a move back to the previous resistance, and then a return to higher prices.   We got close to oversold on Monday, but the rally attempts since then have been feeble. 

We are going to look for still lower here as well. 

Currently the Technometer is near neutral/oversold at 41.5. 

 

The Wyckoff Wave Growth Index traded higher for the week, on continued low volume. 

This index has been weaker, and last week was an oversold bounce.   Technometer is back near overbought, so lets look for this index to rollover once again this week, and continue the downtrend. 

Currently the Techometer is nearing overbought at 46.9.  

 

The SPY also finished the week slightly higher, on average volume.

We had been expecting lower prices and an oversold Technometer, but we have not registered an oversold reading as of yet, to put us on lookout for a rally attempt. 

Let’s look for still lower here as well, and a better buy setup    

The Technometer is near neutral/oversold at 41.6.

 

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The bond market as shown by the TLT, was up for the week, on low volume.

We was looking for higher here, and another possible sell signal.   We did get overbought, but lets look for still higher before another attempt to selloff. 

The Technometer is neutral/overbought at 47.5.

 

The Wyckoff Wave Metal Index was up ever so slight for the week, on low volume.   

We have been wanting a low here, but the indicators will just not line up, and our Technmometer is back near overbought.   We will have to stay on the sidelines until things clear up.      

The Technometer is overbought at 49.1,

 

The long dollar ETF, UUP was  higher for the week, continuing its rally on low volume.

We are above the previous six months resistance, but are not comfortable with a position here.   We will stay on the sidelines here as well.    

The Technometer is near overbought at 48.8.

 

Bitcoin’s spent another week trading sideway, on low volume.

We are still on the sidelines looking to reestablish positions when it warrants.  

Technometer is nearing oversold at 39.4.

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Ethereum also spent last week sideways, on low volume.  

We are on the sidelines for now, looking for a buy setup.

Technometer is above neutral now at 45.9.

 

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Good Trading,

Todd Butterfield