The Wyckoff Wave Continues To Top Of Trading Range

The Wyckoff Wave once again was up for the week.  It broke the uptrend last week, but has now continued in a slightly less steep of an uptrend.  Volume was slightly below average.
The O-P was also up slightly for the week.
The Force Index was flat for the week.

The Technometer reading is near overbought.

The Wave and OP relationship is back to moving in tandem.   This type action has kept the rally alive.

 
The Wyckoff Wave is now approaching the top of our trading range.  You would expect to find resistance here.
With the Technometer nearing overbought on any further rally, we still expect some type of reaction back to the bottom of the trading range at 50,000.
The rally off the 44,000 level has been impressive and keeps this long bull market alive.  We expect further sideways action in the weeks and months ahead, and then ending action for renewed gains.

 
The Wyckoff Wave Growth Index (WWG) was up slightly for the week.  This market is underperforming and looking sideways to lower in the week ahead.

 
The bond market traded slightly lower for the week.   We are overbought, but could work higher this week in negative correlation with stocks.

 
The GDX was up ever so slightly for the week.  We did take the opportunity to add to our recent long position on last weeks pullback.  The Technometer had went from major overbought to oversold, and we like this type of action.  We are long and looking for higher prices.


 
Square (SQ) has traded sideways, and we are watching to buy a pullback.

 
Caterpillar looks lower also.

IMPORTANT ANNOUNCEMENT:  Our “Pulse of The Market” charting software for Cryptocurrrencies is now working.  This software has consolidated volume for the Crypto’s which is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites.
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 948 students enroll since its launch on June 22, 2017.   On June 28th 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 Crptocurrency, search “Learn Crypto / Wyckoff SMI” or click this link https://www.youtube.com/channel/UCDxK2PwEDvoaHZgjPV_WgcA
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Good Trading,

Todd Butterfield