Wyckoff Wave “Backing Up” For A “Last Point Of Support”?

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded sharply lower for the holiday shortened week.  Volume was near average.  We had mentioned that we would like the Wyckoff Wave to extend its rally somewhat, then have a “backup” to its previous resistance, with an oversold Technometer.    We did not extend the rally but fell back into the trading range.  It doesn’t look like a normal “upthrust”, and it looks more like a “last point of support”.   We do …

Wyckoff Wave Holding Its Gains Above Resistance.

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded slightly higher last week while holding the gains of the recent weeks .   Volume was slightly lower. We had expected the Wyckoff Wave to continue its bullish action, and it has done so.   We like the action and would like the Wave to extend a little higher, then back up to the previous resistance with an oversold Technometer.  This will be a chance to add long positions. Technometer is near overbought …

Wyckoff Wave At The Top Of The Intermediate Term Range.

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded sharply higher as discussed last week.   Volume was much higher from holiday levels. We wanted to see the Wave work slightly lower before heading to the top of the recent range, but it did not happen.    Quickly we are back at the resistance level and closed above it nicely on Friday.   The Technometer is near overbought but it appears there is more gas in the tank to take us still …

Wyckoff Wave Holding Steady In The Middle Of The Trading Range.

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded slightly higher for the holiday shortened week.   Volume was considerably lower as well for the week. We wanted to see the Wave work lower last week and give us a more oversold Technometer reading.   Instead it is holding its gains and appears it wants to head to the top of the trading range as we have been calling for.   Let’s see if we can get any selling early in the week …

Wyckoff Wave In The Middle Of The Trading Range Once Again.

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded higher for the week, after opening sharply lower Monday.   Volume was lower for the holiday shortened week. We wanted to see the Wave work lower early in the week, to give us a successful test of the low three weeks ago.  We got the sharply lower opening on Monday, and then the Wave spent the rest of the week on a rally to the middle of the trading range.   It appears …

Wyckoff Wave Testing The Previous Lows.

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded lower for the week as expected.   Volume was higher on the decline. We would now like to see the Wyckoff Wave have a couple days of slightly lower trade, with lower volume accompanying the decline.   This should get our Technometer to near oversold and give us a successful test of the lows from 3 weeks ago.  This should then allow us another stronger rally attempt. The Wyckoff Wave and OP are …

Wyckoff Wave Back Into The Trading Range As Expected.

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded higher for the week as needed by the bullish scenario.   Volume was lower on the rally. We wanted to see the Wave rally back into the trading range last week, and it did exactly that.  Volume to the upside did not come in, so rally was not as strong as we would have liked.  The Technometer is near overbought, so we would probably expect some back and forth trade in a …

Wyckoff Wave Tested The Support And Ready To Rally?

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded lower for the week.   Volume was higher on the selloff. We wanted a little more selling to bring down our Technometer to oversold.   On Wednesday we did get a reading of 39 which is very close to an oversold reading.   We did bounce Thursday, and back and filled on Friday.   So we need the Wyckoff Wave to get back into the trading range and head back to the resistance of the …

Wyckoff Wave Testing The Support.

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded sharply lower Friday to end the holiday shortened week.   Volume was at lower holiday levels. We expected some selling this past week to bring the Wave down to the support level, and also bring our Technometer down to oversold.    We are now at support, but out Technometer is at a reading of neutral.    We would like to see it closer to oversold before we purchase many new holdings. The …

Wyckoff Wave Correcting To The Trading Range Support.

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded lower for the week.   Volume was lower than the previous week. With the Technometer trading near oversold and the Wave testing support at the bottom of the trading range, it appears we will once again try to turn higher.  Any further pullback from here early in the week, should be another buying opportunity. The Wyckoff Wave and OP are trading in unison. The Wyckoff Wave Growth Index rallied all week, before …

Wyckoff Wave Healthy Pullback…

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded slightly lower for the week.   Volume was higher early in the week, then trailed off. With the Technometer trading near oversold and the Wave holding gains, it appears we will once again try to turn higher.  Any further pullback from here should be another buying opportunity.   The Wyckoff Wave and OP trading in unison.   The Wyckoff Wave Growth Index finally decided to take a breather as expected.  We are …

Wyckoff Wave Still Looking Higher…

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave traded sideways to slightly for the week.   Volume was slightly higher as well. With the Technometer trading near neutral and the Wave holding gains, it appears the line of least resistance is still higher.   Any type of pullback should be another buying opportunity. The Wyckoff Wave is slightly stronger than the OP. The Wyckoff Wave Growth index did not take any type of breather and extended recent gains.   We had stated the …