The Wyckoff Wave Sideways Once Again

The Wyckoff Wave closed up slightly for the week on average volume.
The O-P was also higher for the week.
The Force Index was also higher for the week.

The Technometer is registering a near overbought condition.

The Wave and OP had a slight sell divergence on Friday as the OP went to a new high for the move, while the Wave tested its high.  This is what helped us register the almost overbought Technometer reading.

 
The Wyckoff Wave continues to trade at the top of the trading range.  We had expected more sideways type trading action and a possible test of the support level at 47,000.
With the Technometer near an overbought condition it gives the Wave another opportunity to turn lower at the top of the trading range.

 
The Wyckoff Wave Growth Index (WWG) was down slightly for the week after a good rally on Friday.   We would expect this market to trade sideways to lower here.

 
The bond market traded sideways this week.
The Technometer is slightly above neutral which still gives us room to move higher.  The Force index is moving nicely higher, so lets see if we can continue higher in the coming week.
Stay long, trail stops, and look for higher prices.  We would not want to see the 122 level taken out on the downside.

 
The GDX was lower for the week continuing its downtrend.  The Technometer is oversold, and we are approaching the previous resistance of the past trading range.  We would expect support in this area, and would begin to prepare long positions.

 
Square (SQ) had disappointing guidance and broke down this past week.  We took a small loss on a long position, and will be watching for another entry in the coming days.

 
Caterpillar still trading back and forth at resistance.  This continues to be a weak stock, and one we would like to be short sometime soon.  
 
Shopify once again continues to extend their gains.   This is a stock we like longer term.  Anxious to find another short term buy setup.

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 949 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