The Wyckoff Wave In The Middle Of The Trading Range

The Wyckoff Wave was down slightly for the week on average volume.
The O-P was up slightly for the week.
The Force Index was up as well for the week.

The Technometer was close to an overbought reading late in the week.

The Wave and OP did not trade in lockstep last week.  The OP rallied into Thursdays high and gave us the near overbought reading on the Technometer.  This is slightly bearish for the Wave this upcoming week….

 
The Wyckoff Wave finallly had the pullback we have been calling for off of the top of the trading range resistance in the last two weeks.  We had expected more sideways type trading action and a possible test of the support level at 47,000.
With the Technometer now reaching near overbought, we expect to try the downside and the support at the bottom of the range.

 
The Wyckoff Wave Growth Index (WWG) traded heavy for the week as expected, and looking for more downside here.

 
The bond market traded higher once again this past week as expected.
The Technometer is nearing overbought, but we see further gains with the strong move up last week.  We was looking for a strong move through $126 and achieved this last week.
Stay long, trail stops, and look for higher prices.

 
The GDX was down slightly for the week.  The Technometer is near neutral, so we hope this market can still dig in here, and go through the recent resistance at $21.  We are long with close stops to protect.

 
 
 
 
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