The Wyckoff Wave Testing Support At The Bottom Of The Range

The Wyckoff Wave was down slightly for the week as expected.  Volume was slightly lower.
The O-P was also up slightly for the week.
The Force Index was up nicely for the week.

The Technometer is now back to neutral after last weeks overbought reading.

The OP as slightly stronger than the Wyckoff Wave last week.

 
The Wyckoff Wave corrected slightly last week to begin the test of the support at 47,000.
With the Technometer now neutral, we would expect some more selling early next week, and then hopefully a more clear oversold reading on the Technometer.  At that time we would look for a rally back to the top of the recent trading range as shown below.

 
The Wyckoff Wave Growth Index (WWG) rallied early last week as expected, then stalled out.  We would like to see a little downside early this week, then a break above the resistance at 3,900.

 
The bond market opened sharply lower Monday, and then spent the rest of the week trying to recover the losses.
The Technometer is nearing oversold so we will watch this market for possible purchase in the days ahead.

 
The GDX continued its rally to new recovery highs.  Friday’s action looks like we need a few days of consolidation….
We have stops in place, and will look to add on constructive pullback.

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 960 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