The Wyckoff Wave Continuing to Digest Its Gains

This past week the Wyckoff Wave trade sideways to digest its recent gains.  Volume was slightly lower from the previous week.

The Technometer is trading slightly above neutral.

For the week the S&P was up 2.21%, and the Nasdaq 2.30%.


The Wave spent the week trading sideways within the confines of its recent accelerated uptrend channel.

The O-P has returned to trading in correlation to the Wyckoff Wave and spent the week trading sideways as well.

The Force Index continues to show relative weakness to the Wave and applying pressure to the downside.

The Technometer began the week trading slightly below neutral, and finishing the week slightly above.

The one year daily chart shows the Wyckoff Wave meeting a little resistance at the overbought line of the accelerated uptrend, and spent the week reacting back to the support line of that uptrend.
We have been looking for a correction and their are many sentiment reading at 30+ year extremes.  It feels we are in need of a continued breather but we can currently give no signs from our work to say it is now.

The Wyckoff Wave Growth Index (WWG) traded higher and also put in an accelerated uptrend channel.  Volume stayed at slightly higher than normal levels, but no sign of a buying climax.  The Technometer is trading at near overbought levels once again.

The bond market traded sideways for the week.  The OP and Force rallied slightly for the week and have returned the Technometer to overbought levels.  We expect lower prices from here and would add to previous shorts…

IMPORTANT ANNOUNCEMENT:  This week we will be launching our “Pulse of The Market” for Cryptocurrrencies.  This software will have consolidated volume for the Crypto’s which will be most important when applying Technical Analysis.
Due to the demand for Bitcoin/Cryptocurrency information and trading knowledge, we released a Cryptocurrency and Wyckoff Trading Course at our site,   This course is now being offered at an affordable $299.99.  We have had 870 students enroll in the last 28 weeks.   
If you are interested in Cryptocurrency news and Wyckoff chart analysis, search “Learn Crypto / Wyckoff SMI” or click this link . 
Please subscribe and click the bell to be notified of our upcoming broadcasts.  
Our current schedule is Monday-Thursday around 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 “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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