The Wyckoff Wave Found Support At The Bottom Of The Range As Expected

The Wyckoff Wave was up sharply for the week after a gap down opening on Monday.  Volume was average.
The O-P was also up sharply for the week.
The Force Index was flat for the week.

The Technometer is now back to overbought after last weeks oversold reading.

The Wave and OP moved in unison last week.

 
The Wyckoff Wave tested the support at 47,000 we have been anticipating and rallied nicely off that level.
With the Technometer now reaching overbought, we would anticipate a test of last weeks low, before further rally back into the trading range.  We was looking for stocks stronger than the Wave to purchase, and will look to add to positions on any test of last weeks low.
Tuesdays gap opening higher in stocks, made it hard to purchase, so hopefully we will get another chance in the coming week or two

 
The Wyckoff Wave Growth Index (WWG) also opened lower Monday, then rallied strongly the rest of the week.  We are now just back into the downtrend and also overhead resistance is nearby.  We would expect a little higher in the week, then a retracement as well.

 
The bond market opened higher Monday, and gave you a perfect exit point.
The Technometer is quickly back to neutral and we will be monitoring for an oversold position in the days ahead to possibly repurchase TLT.

 
The GDX continued its rally as expected.  We raised stops on our long positions, and will look to add on constructive pullback.

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.
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 949 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
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Good Trading,

Todd Butterfield