The Wyckoff Wave overbought at the top of its trend channel…

This past week the Wyckoff Wave spent another week digesting gains and slighting adding to them.  Volume was once again just average for the week.

The Technometer is now trading at extreme overbought.

The S&P was up 1.19%, and the Nasdaq was up over 1.46% for the week.


The Wave spent the week trading in a somewhat narrow range and volume was nothing exciting again.  The O-P has continued to rally which has kept the Wave working higher.

The Force Index was higher for the week as well.

The Technometer has now went back to extreme overbought again.  We feel this will once again make the Wave susceptible to a correction, or at least more sideways trading once again.   The last time we was overbought it did not lead to a correction, only a pause.  This is very positive action for the bulls.

The one year Daily chart shows the Wyckoff Wave back at the overbought line of its uptrend.  The Technometer is now trading overbought and should bring in some type of correction.

The Wyckoff Wave Growth Index (WWG) rallied as well this week and also overbought on its Technometer.  We think this index will find resistance here and also experience a pullback.

The bond market was down slightly last week in continued negative correlation to the Wyckoff Wave.  The Technometer is now oversold, so covering short term short positions could be advisable.  We would look to add them back on as we rally, and the Technometer is relieved of its oversold condition.

IMPORTANT ANNOUNCEMENT:  Barchart just announced that they will be offering trade data on Cryptocurrencies now.   We will therefore be launching our “Pulse of The Market” for Cryptocurrrencies in the upcoming weeks.
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 590 new students enroll in the last 14 weeks. 
We also have a Youtube channel that has grown quickly to 11,000 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 5 p.m. CST and they usually last close to two hours, and we just added an approximate 10-11 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.  We felt this market with its public participation, lots of volatility, and extreme emotions would be much easier to trade.  So far that has been the case…
Good Trading,

Todd Butterfield

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