The Wyckoff Wave In The Middle Of Trading Range

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The Wyckoff Wave closed slightly lower for the week.  This loss was caused by the major weakness in Boeing.   Volume was average with a spike for Friday’s expiration.
The O-P was up slightly for the week.
The Force Index was also up slightly for the week.

The Technometer reading is near neutral.


The Wave and OP are somewhat trading in lockstep except for Friday’s volume gyrations.

The Wyckoff Wave did meet some resistance at the top of the trading range as expected, and has fallen back into the trading range.
We had expected the oversold Technometer would give us a continued rally this past week.  That did occur in the general markets, but the Wyckoff Wave was slightly lower do to the selloff in Boeing.  The Technometer on various ETF”s like DIA, SPY, and QQQ are overbought so we expect the general market to correct in the coming week.
The rally off the 44,000 level has been very impressive and keeps this long bull market alive.  We still expect further sideways action in the weeks and months ahead, and then ending action for renewed gains.   The recent decline now makes the last few months rally a test of the upthrust.  We still expect more trading range type trading in the weeks ahead.

The Wyckoff Wave Growth Index (WWG) was up for the week along with the general market.  We had expected continued trading range type trading here, so we still expect some weakness next week.

The bond market traded sideways for the week, digesting the previous weeks gains.  We did reach overbought on the Technometer so the sideways action was expected.  Let’s see if we can now continue the recent rally from the successful backup once we work off the overbought condition.
Stay long, trail stops, and look for higher prices.

The GDX was flat for the week.   Stay long and look for higher prices.

Square (SQ) traded slightly higher for the week as expected.  We hope for another buying opportunity in the near future.

Caterpillar traded sideways and this chart still does not look good. 
Shopify we purchased last Friday for our ProTrader subscribers.  We had nice rally for the week and currently still long.

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,   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
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Good Trading,

Todd Butterfield


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