The Wyckoff Wave Headed To The Top Of The Range

The Wyckoff Wave flopped around until Friday’s strong close.  Volume still at low levels.
The O-P was down for the week in stark contrast.
The Force Index was also down.
The Technometer is below neutral headed to oversold.

 

The Wyckoff Wave and OP was completely out of sync last week.  You can see that the OP was in constant downtrend while the Wave was in uptrend.

 
The Wyckoff Wave is flopping around in it’s trading range trying to prepare for its next move.
As the Wave rallied the Optimism Pessimism Index (OP) had constant selling pressure.  This is bringing down the Technometer to oversold levels.  This is peculiar action and one that we will be closely monitoring.
We will look for the Wyckoff Wave to continue to trade sideways in the coming week.

 
The Wyckoff Wave Growth Index (WWG) ended the week with a small positive close.
The Technometer is stuck around neutral so not much to add here.

 
The SPY also finished the week slightly higher.  Friday was a positive day but the close left alot to be desired for the bulls.  Here also the OP is not rallying and the Technometer is registering oversold.  We will watch early in the week to try and decipher the action better.

 
The bond market took a breather last week as called for.  It had selling come into the market every day of the week.
The Technometer was overbought which helped us call for the correction, but it is now nearing oversold.   This market could provide us another nice long entry this week.

 
The GDX had strong selling on Friday which was as called for.
We are on the lookout for the $26,50 level to be broken so we will watch that in the next few days.
The Technometer is oversold so we have to be prepared for the selloff to find some support soon.

 
The long dollar ETF, UUP traded lower for the week as expected.  Short term it does look like we had an upthrust/test, but now quickly we have an oversold Technometer once again.  We must stand aside….

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. 
We have recently started a Discord channel where we discuss the Crypto markets.  We have had huge success and if you trade Bitcoin you might like monthy access at $40 a month.  https://www.patreon.com/LearnCrypto
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 960 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