The Wyckoff Wave In The Middle Of The Trading Range

The Wyckoff Wave was down slightly for the week on average volume.
The O-P was flat for the week.
The Force Index was down slightly for the week.

The Technometer is at a neutral reading.

The Wave and OP did not trade in lockstep last week.  The Wave was stronger on the rally while the OP lagged.

 
The Wyckoff Wave finallly had the pullback we have been calling for off of the top of the trading range resistance in the last two weeks.  We had expected more sideways type trading action and a possible test of the support level at 47,000.
With the Technometer reaching oversold the previous week, we expected a bounce last week.  We did get that after starting from lower levels from Monday’s opening selloff.  The Technometer is neutral so we could see a little higher early in the week, then more downside.

 
The Wyckoff Wave Growth Index (WWG) was down for the week as well.   We had expected a bounce, which we got from Monday’s lower opening, but this market still is trading heavy.

 
The bond market traded higher once again this past week.
The Technometer is still at neutral.  We had expected another attempt at breaking through $126, and we think that is still ahead of us.
Stay long, trail stops, and look for higher prices.

 
The GDX was up slightly for the week.  The Technometer is nearing overbought, so we hope we can get some further strength from these levels quickly.  We are long with close stops to protect.

 
Square (SQ) traded slightly lower and still looking weak…Look to buy lower.

 
Caterpillar showing weakness as expected and leading the Wyckoff Wave lower.  This chart is not pretty.  
 
Shopify continuing to flex higher.   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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Our current schedule is Monday-Thursday approximately 6:30 p.m. CST, and they usually last approximately one hour.  We will also broadcast at additional random times since we want to satisfy our international subscribers as well.  
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Good Trading,

Todd Butterfield