The Wyckoff Wave Close To Making Another Low.

The Wyckoff Wave finished the week lower as expected, on average volume.

We had an overbought Technometer and we expected lower which we got.  We now have a neutral Technometer, and with a little more weakness should quickly get to oversold.

Tuesday is CPI, and Wednesday is FED meeting, so will be volatile early in the week.

The Technometer is currently at 44.2.  


The Wave is weaker then the OP.   


WWN – The Wyckoff Wave New Index closed lower as well, on average volume.  

A little lower early in the week and the Technometer should be oversold, and ready for a bounce at minimum. 

Currently the Technometer is near oversold at 41.4. 


The Wyckoff Wave Growth Index closed lower last week, on average volume as well.  

We are back to neutral on the Technometer and much more weakness should get us close to oversold.  If happens, we would be looking for a rally.

Currently the Techometer is near neutral at 43.2.  


The SPY was lower for the week, on average volume. 

We was expecting sideways to lower for the week, and the Technometer to get back to oversold.  That has almost happened, and should occur on any weakness Monday.   We would look to be a buyer if so.

The Technometer is near oversold at 39.6.


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The bond market was down slightly for the week as expected.

The Technometer was extreme overbought, and now back to neutral at 45.5.  If we can get the TLT a little lower this week, it appears it would be a good buy setup again.


The Wyckoff Wave Metal Index was lower as well as expected, on low volume.

Technometer was overbought here as well, and now quickly back to near oversold.   Let’s look for that to happen early in the week, then ready to turn up again.

The Technometer is nearing oversold at 42.1.


The long dollar ETF, UUP was up slightly, on low volume.

We was expecting a little lower, before a bounce, instead we rallied slightly.  Let’s look for slightly higher short term, then another turn lower.  

The Technometer is near overbought with a reading of 48.6.


Bitcoin has been trading quietly sideways as hoped for, on low volume. 

We liked Bitcoin holding while stocks experienced some selling pressure.   We are not getting an oversold Technometer as there is no real selling here.   Let’s look for Bitcoin to work higher with stocks, after a little possible weakness early in the week as mentioned above.  

Our Technometer for Bitcoin is neutral at 46.0. 



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Good Trading,

Todd Butterfield

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