The Wyckoff Wave In The Range

The Wyckoff Wave was up for the week.  Volume was below normal for the summer doldrums.
The O-P was up strong for the week.
The Force Index was also up strong for the week.

The Technometer is extreme overbought.

The OP and Wave are trading in unison.

 
The Wyckoff Wave rallied last week as expected.
With the Technometer now at overbought levels we think this rally will stall here.  This is not a good place to stall, and it appears we will now take a more important look at the lows of the trading range.

 
The Wyckoff Wave Growth Index (WWG) traded higher last week as well.  Its Technometer is still trading at overbought levels.  We still think we might need to back and fill somewhat to relieve the overbought Technometer before moving much higher.

 
The bond market traded sharply  lower for the week.
The Technometer is back to oversold, as we had been wanting, so it looks to be in a good position to work higher once again.  Expect at least a 50% retracement of the recent correction.

 
The GDX closed higher for the week and extending its gain for its bull market.  Technometer was oversold and gave us nice add on entry, so we continue to look for this market to trade higher.

 
We also gave a short sell in the long dollar ETF, UUP to our ProTraders.  We think the dollar is turning down and this will provide nice setups.

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
Please subscribe and click the bell to be notified of our upcoming broadcasts.  
Our current schedule is Monday-Thursday approximately 6:30 p.m. CST, and they usually last approximately one hour.  We will also broadcast at additional random times since we want to satisfy our international subscribers as well.  
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Good Trading,

Todd Butterfield