The Wyckoff Wave Back In The Range

The Wyckoff Wave was up for the week.  Volume was average.
The O-P was also up slightly for the week.
The Force Index was down slightly for the week.

The Technometer is neutral.

The OP moved in lockstep with Wyckoff Wave except for major sell bar at Friday’s close.

 
The Wyckoff Wave did not move lower to test the lows at 47,000 this week as expected.   Instead it continued its rally off the support line of the trading range as shown in purple.
With the Technometer neutral, we would expect some more trading range type action, until we can get ending action once again.

 
The Wyckoff Wave Growth Index (WWG) continued its rally as well thru the resistance at 3,900.  It currently has an oversold reading so this market looks as if it can continue its gains next week.

 
The bond market continued its bull trend as well last week by making a new recovery high at Thursdays close.  It was overbought and look to need some type of correction to work off the overbought condition.
The Technometer is neutral so lets look for more near term selling until Technometer nears oversold.  We think this market still works higher intermediate term.

 
The GDX continued its strong rally last week.  We have an extreme overbought market once again so we could slow the gains, but this market looks still higher from here.
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