The Wyckoff Wave Had Nice Correction As Called

The Wyckoff Wave had a nice pullback for the week on average volume.
The O-P was down slightly for the week.
The Force Index was up slightlyl for the week.

The Technometer came off of an oversold condition on Thursday, and still at a reading of 41.

The Wave and OP had a slight buy divergence on Friday as the Wave went to a new low while the OP did not.  This is not the more reliable divergence, but one nonetheless.   This gave us a bounce into Friday’s close.

 
The Wyckoff Wave finallly had the pullback we have been calling for off of the top of the trading range resistance.  We had expected more sideways type trading action and a possible test of the support level at 47,000.
With the Technometer reaching oversold on Thursday, which we tweeted about, we expect a bounce into this week.  Then probably more downside….

 
The Wyckoff Wave Growth Index (WWG) was down for the week as well.   We would expect this market to bounce early in the week, then more selling.

 
The bond market traded higher this week as expected.
The Technometer is at neutral.  We would expect slight pullback early in the week, while stocks bounce, then another run at the $126 level.
Stay long, trail stops, and look for higher prices.  We would not want to see the 122 level taken out on the downside.

 
The GDX was flat for the week.  The Technometer is still oversold, and we are approaching the previous resistance of the past trading range.  We would expect support in this area, and would be looking at long positions.

 
Square (SQ) still trading weak…Look to buy lower.

 
Caterpillar turned lower as expected and lead the Wyckoff Wave.  This chart is not pretty.  
 
Shopify consolidating gains.   This is a stock we like longer term.  Anxious to find another short term buy setup.

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