Our general market indicators are overbought and looking like we are making a short term top here. I am selling IWM at the market ($222.40), and taking small loss. I am also entering a sell stop order on QLYS at $109.70 Good Until Cancelled. I will watch this one as if we can’t breakout here, I might just take small profit and look to buy back lower.

Todd Butterfield Blog, Model Stock Portfolio, Trade Updates

Let’s buy IWM at the market, current price $230.74. We have what could be a jump and a backup, and the Technometer is extreme oversold.

Todd Butterfield Blog, Model Stock Portfolio, Trade Updates

Reaction Continues

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave continued the reaction that began the week before.  It did not make much downside progress, but a continued slight correction nonetheless.   The price and volume relationship shows supply still present. The Technometer was extremely overbought a week and a half ago, but with volume coming in on the downside on this reaction, it has brought the Technometer back to below a neutral reading.  It currently sits at 40.10, with a reading …