Reaction In Progress

Todd Butterfield Market Opinion-Free 0 Comments

Thursday, January 12, 2017 What To Do? Short Term Short-term bears should hold short positions and lower stops to Tuesdays high as marked on the intra-day chart. Short-term bulls should be looking for long candidates and be prepared to act. Intermediate & Long Term: Intermediate and long term positions to the upside should be maintained. There are no intermediate or long term opportunities to the downside. Market Trends: Intra-day: Down Short Term: Down Intermediate Term: Up Long Term: …

Santa Claus Rally

Todd Butterfield Market Opinion-Free 0 Comments

Friday, December 23, 2016 ALL OF US HERE AT WYCKOFF SMI WOULD LIKE TO WISH EVERYONE A SAFE AND HAPPY HOLIDAY!! What To Do? Short Term Short-term bears should stay short and use stops at recent highs.  New short positions could be taken at these levels if volume expands on the downside. Short-term bulls stand aside. Intermediate & Long Term: Intermediate and long term positions to the upside should be maintained. There are no intermediate …

Correction has started??

Todd Butterfield Market Opinion-Free 0 Comments

Monday, November 28, 2016 What To Do? Short Term: Short-term bulls should have liquidated their positions as supply was present today. Short-term bears should continue to identify candidates to the downside.  Short positions should have been taken today for the expected reaction.  We implemented a couple of short positions on our ProTraders update today at 11:23 am CST. Intermediate & Long Term: Intermediate and long term positions to the upside should be maintained. There are …

A Lack Of Supply Rally

Jim OBrien Market Opinion-Free 0 Comments

Monday, November 21, 2016 What To Do? No changes from Friday Short Term: Short-term bulls should continue to maintain their positions. The expected minor reaction would create a difficult risk/reward ratio for any new positions to the downside. Short-term short positions are not recommended. There are no short-term positions to the downside. Intermediate & Long Term: Intermediate and long term positions to the upside should be maintained. There are no intermediate or long term opportunities …

A current example of a Wyckoff “Double Divergence”

Todd Butterfield Market Opinion-Free 0 Comments

The following chart shows a recent double divergence between the OP/Price for December Crude Oil Futures.  This setup is discussed on our online course “Wyckoff Wave Unleashed”, Lecture 10, and shown on Chart 14. You can see that as the Technometer reached overbought at the blue circle, the price made its final high, and has been in a sustained downtrend since.  It is now entering oversold territory, so we would expect a corrective rally.

AKAM has higher upside objectives

Todd Butterfield Market Opinion-Free 2 Comments

We wanted to show that there is good buying on this rally and the Technometer is still in the neutral range, so we feel we could rally to the first upside objective off the figure count.   You can see that the first figure count objective is $73-76 The Wyckoff Wave is having a hard time putting together a rally here, so our other long positions are mostly treading water at this time. Todd

We want to purchase our first unit of Agnico Eagle Mines, (AEM, $45.20) at the market

Todd Butterfield Market Opinion-Free 0 Comments

We have mentioned on an earlier post we are starting to like the mining stocks, and we believe today is a good day to start nibbling. You can see on the most recent correction the stock as experience a sharp correction, while the Force Index is holding at higher levels and the Technometer is rallying out of an oversold level. We think these stocks might spend some time down here before rallying strongly, but we …