The Wyckoff Wave Hesitates At Top Of Range

The Wyckoff Wave once again was up for the week.  We rallied up to the resistance line as marked and stopped the rally for a few days.  Volume was slightly below average.
The O-P was also up slightly for the week.
The Force Index was flat for the week.

The Technometer reading is near overbought.

The Wave and OP are trading in harmony.

 
The Wyckoff Wave did find some resistance at the top of the trading range.
With the Technometer nearing overbought on any further rally, we still expect some type of reaction back to the bottom of the trading range at 50,000.
The rally off the 44,000 level has been impressive and keeps this long bull market alive.  We expect further sideways action in the weeks and months ahead, and then ending action for renewed gains.

 
The Wyckoff Wave Growth Index (WWG) was basically flat for the week.  This market is underperforming and looking sideways to lower in the week ahead.

 
The bond market traded slightly lower for the week.   We came off of major overbought, and now back to neutral quickly. We still think bonds could work higher this week in negative correlation with stocks.

 
The GDX was up sharply for the week as expected.  We are long from comfortable levels with protective stops in place.   This has been a classic Wyckoff trade thus far.

 
Square (SQ) has traded sideways, and we are watching to buy a pullback.

 
Caterpillar looks lower also.  We tried a short this week with a close stop and took a small loss.  This chart still does not look good.
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 948 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