The Wyckoff Wave adds to its gains…
This past week the Wyckoff Wave continued its gains of the previous week. Volume was steady all week to slightly lower.
The Technometer is now back to neutral.
The S&P was basically flat, and the Nasdaq was down .35% for the week.
The Wave spent the early part of the week extending its gains and then spent the last half digesting them. The O-P once again did not support the rally early in the week, and closed flat for the week.
The Force Index was higher for the week once again as well.
The Technometer has went from extreme overbought to neutral, while the Wave has continued to add to its gains. This is very positive action for the bulls.
The one year Daily chart shows the Wyckoff Wave back at the overbought line of its uptrend. The Technometer is now trading neutral, and it will not take much of a correction to get it to oversold. We was expecting some type of short term correction to be used to enter long positions. So far we have had no pullback in the Wyckoff Wave…
The Wyckoff Wave Growth Index (WWG) experienced losses for the week which we was expecting. We think there is more downside to this Index in the immediate days ahead.
The bond market was down slightly last week in negative correlation to the Wyckoff Wave. We would like to see a short term bounce here to relieve the oversold Technometer, and allow us to increase our short positions.
IMPORTANT ANNOUNCEMENT: Barchart just announced that they will be offering trade data on Cryptocurrencies now. We will therefore be launching our “Pulse of The Market” for Cryptocurrrencies in the upcoming weeks.
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 offered at an affordable $249.99 and we have had 500 new students enroll in the last 12 weeks.
We also have a Youtube channel that has grown quickly to 10,600 subscribers in a matter of a few months. If you are interested in Cryptocurrency news and Wyckoff chart analysis, search “CRYPTO NEWS”, subscribe, and click the bell to be notified of our upcoming broadcasts. Our current schedule is Monday-Friday around 5 p.m. CST and they usually last close to two hours, and we just added an approximate 10-11 a.m. broadcast to reach more of our international subscribers. We have subscribers all over the world, so at times we vary broadcasts to try and satisfy international subscribers.
If you would also like to follow us on twitter for news and trade ideas, follow “WyckoffonCrypto”. We have given numerous profitable trades to our subscribers on the Youtube channel, as well as Twitter. We felt this market with its public participation, lots of volatility, and extreme emotions would be much easier to trade. So far that has been the case…