The Wyckoff Wave Continuing to Trade in a Narrow Range

This past week the Wyckoff Wave experienced a slight net gain.  Volume was heavy on Monday/Tuesday and then fell back to more recent normal levels.

The Technometer is trading slightly above neutral levels.

For the week the S&P was down .15%, and the Nasdaq up .44


The Wave spent the early part of the week trying the downside, before springing the bottom of the recent trading range.  It then rallied strongly on Thursday, before pulling back slightly on Friday.  The O-P failed to make a new low on Wednesday’s decline which lead to the strong rally on Thursday.  You can see this on the chart below.

The Force Index was down slightly for the week.

The Technometer began the week below a neutral reading, and finished the week above a neutral reading.  Not much help here from the Technometer.

The one year Daily chart shows the Wyckoff Wave still in the upper portion of the recent uptrend chanel.  We have expected more downside but so far have not received it.

The Wyckoff Wave Growth Index (WWG) was once again basically flat for the week.   We could still be testing the minor creek at 2,900 as shown by the light blue line.   If so, this market should be watched closely on another short term pullback this week.
On an intermediate term basis, it has reentered its previous uptrend channel, and is not overbought so it could try to make it way back to the overbought line of the uptrend once the testing of the creek is complete.

The bond market once again rallied strongly last week.  The Technometer got close to oversold early in the week, but we have stayed short.  Looking for a place to add on to shorts.

IMPORTANT ANNOUNCEMENT:  We will be launching our “Pulse of The Market” for Cryptocurrrencies in the upcoming weeks.  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 offered at an affordable $299.99 and we have had 670 new students enroll in the last 20 weeks.   
We also have a Youtube channel that has now grown quickly to 12,700 subscribers in a matter of a few months.  If you are interested in Cryptocurrency news and Wyckoff chart analysis, search “CRYPTO NEWS”, subscribe, and click the bell to be notified of our upcoming broadcasts.  Our current schedule is Monday-Friday around 6 p.m. CST and they usually last close to two hours, and we just added an approximate 11-12 a.m. broadcast to reach more of our international subscribers.  We have subscribers all over the world, so at times we vary broadcasts to try and satisfy international subscribers.  
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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