The Wyckoff Wave Continues Range Bound

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was down for the week once again.  Volume was higher again from previous weeks.

The O-P was up slightly for the week.

The Force Index was flat for the week.

The Technometer is now neutral.

 

The OP is slightly stronger than the Wyckoff Wave this week, which has brought the Technometer up from oversold, to a neutral level.

 

The Wyckoff Wave traded lower after being up slightly mid week.

With the Technometer being oversold, last weeks action is a little disappointing.   Looks as if we are wanting to test the support again at 47,000 and volume was increased that last few days as we traded lower.  Let’s watch the action early next week….

 

The Wyckoff Wave Growth Index (WWG) also traded lower after mid week.  We had an oversold Technometer last week, and expected support to come in.  Technometer is now slightly below neutral, and we are back to 3,900 which earlier in the year was resistance.  Let’s watch here for a few days as well to get a better handle on the action, and see if 3,900 will be support this time.

 

The bond market traded sharply higher for the week, in negative correlation to the stock market.

The Technometer neared oversold last week, and we was looking for the TLT to extend its advance, which it did nicely.  We will be raising stops soon on our long position.  The TLT has given us nice gains this year!

 

The GDX closed slighlty higher for the week after experiencing a sharp selloff Wednesday from Fed speak.  The Technometer is near neutral, so we would expect the GDX to continue to work higher.   Metals as well has been a great trade for us this year!

 

The long dollar ETF, UUP traded slightly higher, after being sharply higher into Thursday morning.  We must stand aside until price action warrants a position.

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. 

We have recently started a Discord channel where we discuss the Crypto markets.  We have had huge success and if you trade Bitcoin you might like monthy access at $40 a month.  https://www.patreon.com/LearnCrypto

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

Please subscribe and click the bell to be notified of our upcoming broadcasts.  

Our current schedule is Monday-Thursday approximately 6:30 p.m. CST, and they usually last approximately one hour.  We will also broadcast at additional random times since we want to satisfy our international subscribers as well.  

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

Good Trading,

Todd Butterfield

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