The Wyckoff Wave Continued Higher But Nearing Overbought.

The Wyckoff Wave traded higher for the week, on an increase in volume.

We was looking for a pullback last week, but instead got further strength.   We are nearing overbought so we still expect a correction soon.  

The Technometer is nearing overbought at 48.1.  

 

The Wave is underperforming the OP only slightly to the upside.  

 

WWN – The Wyckoff Wave New Index continued higher last week, on average volume, with an increase on Friday’s down day.

Our Technometer was near overbought, but now nearing oversold this week on any further downside.  The Technometer nearing oversold will put us on the lookout for a possible buy early in the week.

Currently the Technometer is overbought at 42.0. 

 

The Wyckoff Wave Growth Index traded lower, on an increase in volume. 

We will look for lower prices here in the coming week. 

Currently the Techometer is above neutral at 45.7.  

 

The SPY rallied slightly higher for the week on average low volume. 

We were looking for lower last week, but we continued still higher.   We are now back to oversold on the Technometer, which has called all recent lows.   It would appear that SPY will find another low here.

If we do not rally here, then it might be our first sign that we have lower to go. 

The Technometer is oversold at 37.2.

 

If you want more current up to the minute updates and trades as shown above, please join our ProTraders/Private Stock Discord.  Join Here If you are a Crypto Discord Member, and would like the ProTraders/Private Stock Discord as well, you can have access for only $20 a month.   Join Here

The bond market as shown by the TLT, was slightly higher for the week, on average volume.

We were overbought last week on our Technometer, and we are still there.  It appears we can work lower and test the recent low at 99.    

The Technometer is extreme overbought at 54.0.

 

The Wyckoff Wave Metal Index was down slightly for the week, on low volume.   

We was looking for sideways/lower last week which we got exactly.  We sprung Monday’s low on Thursday, and that could give us another low.

If not, then we still expect Metals to make a low in the coming week. 

The Dollar bounced last week, and should rollover again soon.

The Technometer is neutral at 43.8.

 

The long dollar ETF, UUP was higher for the week as expected, on extremely low volume.

We was looking for a recovery last week, before further weakness.   Possible to go a little higher still, but then lets look for more downside.   

The Technometer is oversold at 38.9.

 

Bitcoin traded sideways once for the week, on low volume.  

We have been looking for a break below $29,000 to be a buyer.  We will continue to look for that in the coming days.

Technometer is neutral at 43.6.

 

Ethereum has traded slightly lower in the last week, on low volume. 

Same as Bitcoin, we would like to see a slight pullback to give us another good buy setup.

Technometer is below neutral at 42.5

 

To join our Patron/Discord to get these trades real-time click HERE

 

IMPORTANT ANNOUNCEMENTS: 

We launched our WyckoffSMIChina.com site March 2022, for our China community.  Check it out!

We now have a lower cost version of our Unleashed Course, which is an excellent value at $349.99.  

Click Here Our new “Pulse of The Market” charting software for Cryptocurrrencies is now showing consolidated volume from over 140+ exchanges.  This is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites, and will be launching for subscription in near future. 

We have an active Discord channel where we discuss the Crypto markets.  We have had huge success and if you trade Bitcoin you might like monthly access at $40 a month. Join Here

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 1029 students enroll since its launch on June 22, 2017.    On June 28th, 2018 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 Cryptocurrency, search “Learn Crypto / Wyckoff SMI” or click this link https://www.youtube.com/channel/UCDxK2PwEDvoaHZgjPV_WgcA Please subscribe and click the bell to be notified of our upcoming broadcasts.

If you would also like to follow us on twitter for news and trade ideas, follow “WyckoffonStocks“, “LearnCryptoShow“, or “WyckoffonCrypto“.   We have given numerous profitable trades to our subscribers on the Youtube channel, as well as Twitter.  

Good Trading,

Todd Butterfield