The Wyckoff Wave Could Retrace Some Of Our Recent Losses.

The Wyckoff Wave finished the week lower once again , on low volume.

We was wanting a slight correction to get our Technometer closer to oversold.   It still did not get there on the correction, as no real sell volume came in.

We think the Wyckoff Wave can rally this coming week to retrace some of the recent losses.

The Technometer is neutral at 46.4.  

 

The OP rallied to end the week and outperformed the Wave to the upside.  This is why the Technometer did not get to oversold. 

 

WWN – The Wyckoff Wave New Index also closed lower, on low volume. 

Once again not the action we was looking for, as our Technometer is nearing overbought for the same reason it was for the Wyckoff Wave.  

Lets see if we can rally some early in the week, and then study the action.

Currently the Technometer is almost overbought at 49.4. 

 

The Wyckoff Wave Growth Index also closed lower last week, on lower volume.  

The Growth Index also did not get oversold, and is hovering around neutral.   The selloff has been on low volume and looks constructive.  Let’s see if we can rally early in the week, and monitor the action.     

Currently the Techometer is neutral at 44.1.  

 

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

The Technometer here as well is hovering around oversold, and the correctoin looks normal.   Let’s see if we can bounce this coming week.      

The Technometer is neutral at 44.6.

 

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The bond market was down slightly once again for the week as expected, on low volume.

We was hoping for an oversold Technometer as we are approaching the prior $99 low, but that has not occurred.  The Technometer is actually overbought, so lets look for some more downside in the week ahead.    

You can see the OP is hitting new highs, while the TLT has been correcting.  Strange action indeed.

The Technometer is overbought at 52.6.

 

The Wyckoff Wave Metal Index also ended the week down as expected, on low volume.

Our Technometer is giving us no help here in helping pick a bottom, so we will stay on the sidelines.

The Technometer is neutral/overbought at 47.4.

 

The long dollar ETF, UUP continued its recent gains for the week, on low volume.

We had been expecting an a-b-c rally in the Dollar, up to these levels, just not in the manner that it was done.

We think the Dollar will meet resistance up here, and turn back down.

The Technometer is at 45.0.

 

Our Wyckoff Wave Crypto Index (WWCI), gave us a “BUY” signal Saturday, so we expect higher pricees here in the week ahead.

You can see the oversold Technometer as well as the bullish divergence as marked in blue with the OP and price.

 

Bitcoin experienced a selloff late in the week, on extremelyl low volume.  But this gave us another entry if needed, on the action of the WWCI.  

Once again we have not registered oversold on Bitcoin, but we came back down to the 41 level, which caught the last low we purchased for the Backup. 

Bitcoin is already up $700 from Saturday’s buy level, so lets look for continued strength with stocks early in the week.         

Our Technometer for Bitcoin is near oversold at 41.2. 

 

Ethereum also sold off to end the week, but has bounced today.

We are still hold long positions from $1,496, and our protective sell stops have held. 

Let’s look for continued higher here early in the week as well.

Technometer is near neutral at 43.

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IMPORTANT ANNOUNCEMENTS: 

We launched our WyckoffSMIChina.com site late March, 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